The Interest Accrued on $3,600 at 7% for 60 Days

question 35

Multiple Choice

The interest accrued on $3,600 at 7% for 60 days is:

• A)$36.
• B)$42.
• C)$252.
• D)$180.
• E)$420.

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Definitions:

Ineffective

Refers to something that does not produce the desired result or is not having the intended effect.

Available

Accessible or at hand; able to be used or obtained.

Syllogism Valid

An argument form with two premises and a conclusion, valid if the conclusion logically follows from the premises.

Accounting Error

A mistake in the recording, categorization, or calculation of financial transactions.