The Accrued Interest for a Three Month Note Payable of $10,000

question 126

True/False

The accrued interest for a three month note payable of $10,000 dated December 1, 2022 at an interest rate of 6% is $150 on December 31, 2022.

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Definitions:

Reactive Nervous System

A part of the nervous system that responds to stimuli from the environment, often associated with automatic or reflexive actions.

Token Economy

A behavioral modification technique where desirable behaviors are rewarded with tokens that can be exchanged for various privileges or treats.

Behavior Modification

A therapeutic approach that seeks to change undesirable behaviors through the systematic application of the principles of learning.

Cognitive Therapy

Therapy that teaches people new, more adaptive ways of thinking and acting; based on the assumption that thoughts intervene between events and our emotional reactions.