If a Three-Month, 6% Bank Loan for $5,000 Is Signed

question 89

True/False

If a three-month, 6% bank loan for $5,000 is signed on October 1, the interest expense for the month of October is $25.

---

Definitions:

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA, that carry genetic information.

Recessive Genes

Genes that are expressed in offspring only when inherited from both parents, as opposed to dominant genes, which are expressed when inherited from just one parent.

Dominant Genes

Genes that overpower their recessive counterparts and determine the phenotype of an organism.

Heterozygous Pairs

In genetics, refers to a pair of genes where one is dominant and the other is recessive; they're different alleles for a specific trait.