A 1-Year,$15,000,12 Percent Note Is Signed on April 1

question 46

Multiple Choice

A 1-year,$15,000,12 percent note is signed on April 1.If the note is repaid on September 1 of the same year,how much interest expense is incurred?

• A)$1,800
• B)$900
• C)$750
• D)$600

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Definitions:

Year

A unit of time based on the Earth's orbit around the Sun, traditionally divided into 12 months, 365 or 366 days.

Expressive Smile

An expressive smile is a facial expression that conveys genuine happiness, joy, or satisfaction, often involving the eyes in addition to the mouth.

Shape Of Mouth

Refers to the configuration or arrangement of the mouth that can significantly influence speech sounds and facial expressions.

Upper Face

The region of the face that includes the forehead, eyes, and eyebrows, often involved in expressing emotions such as surprise or concentration.