The Interest Charged on a $50,000 Note Payable, at the Rate

question 77

Multiple Choice

The interest charged on a $50,000 note payable, at the rate of 8%, on a 3-month note would be

• A) $4,000.
• B) $2,000.
• C) $1,000.
• D) $667.

---

Definitions:

Hydrogen Bonds

A type of weak chemical bond that occurs when a hydrogen atom bonded to a highly electronegative atom, such as oxygen or nitrogen, experiences an attraction to another electronegative atom.

Cytosine

A pyrimidine base found in DNA and RNA that pairs with guanine.

Guanine

One of the four main nucleobases found in DNA and RNA, it pairs with cytosine during DNA replication.

Hydrogen Bonds

Weak bonds formed between a hydrogen atom and a more electronegative atom, important in the structure of DNA and proteins.