On August 1,a $30,000,6%,3-Year Installment Note Payable Is Issued by a Company.The

question 87

Multiple Choice

On August 1,a $30,000,6%,3-year installment note payable is issued by a company.The note requires equal payments of principal plus accrued interest be paid each year on July 31.The present value of an annuity factor for 3 years at 6% is 2.6730.The payment each July 31 will be:

• A)$10,000.00.
• B)$11,223.34.
• C)$10,800.00.
• D)$10,400.00.
• E)$1,223.34.

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Definitions:

Bryophytes

Term used to identify plants that do not have vascular tissue. Includes the liverworts, hornworts, and mosses.

Vascular Tissue

The complex tissue in plants responsible for conducting water, minerals, and nutrients throughout the plant.

Ferns

are a group of plant species that reproduce via spores and have neither seeds nor flowers, characterized by large, divided leaves.

Megaspore

A type of spore that is larger in size, produced by certain plants, that develops into a female gametophyte.