Melon Industries Issues a $20,000, 10%, 135-Day Note to Apple

question 61

Multiple Choice

Melon Industries issues a $20,000, 10%, 135-day note to Apple Communications. Interest on the note is _________ and the maturity value is __________. (Use a 360-day year. Do not round any intermediate calculations. Round your final answers to the nearest dollar.)

• A) $2,000; $22,000
• B) $7,500; $27,500
• C) $750; $20,750
• D) $75; $20,075

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Definitions:

Polar Covalent

A type of chemical bond where electrons are unequally shared between atoms, resulting in a molecule with an unequal distribution of charge.

Ionic Bond

Chemical bond that is formed when one atom loses an electron and another accepts that electron.

Inorganic Chemists

Scientists who specialize in the study of inorganic compounds, including metals, minerals, and organometallics.

Organic Chemists

Scientists specializing in organic chemistry, focused on the compounds of carbon and designing synthetic pathways for molecules of interest.