The Interest Charged on a $50000 Note Payable at the Rate

question 170

Multiple Choice

The interest charged on a $50000 note payable at the rate of 6% on a 60-day note would be

• A) $3000.
• B) $1667.
• C) $750.
• D) $500.

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Definitions:

Waxes

A diverse class of organic compounds that are malleable at room temperature, typically derived from plants and animals or synthesized industrially.

Oils

Organic compounds that are liquid at room temperature and are hydrophobic, not mixing with water but mixing with other oils and organic solvents.

Carbohydrate

Organic compounds made up of carbon, hydrogen, and oxygen that serve as a major source of energy in the diet of animals, including sugars, starch, and cellulose.

Saccharide

A saccharide is a sugar or a substance made up of sugar molecules, ranging from simple monosaccharides like glucose to complex polysaccharides like starch.