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

question 130

True/False

The accrued interest for a three month note payable of $10,000 dated December 1, 2013 at an interest rate of 6% is $150 on December 31, 2013.

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Definitions:

Expected Value

The sum of all possible values each multiplied by its probability of occurrence.

Binomial Distribution

A probability distribution that models the number of successes in a fixed number of independent Bernoulli trials with the same probability of success.

Equation

An equation is a mathematical statement that asserts the equality of two expressions, typically containing one or more variables.

Binomial Experiment

A statistical experiment that has exactly two possible outcomes for each trial and a fixed number of trials.