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.

---

Definitions:

Primary Storage

Also known as main memory, it is the storage within a computer that is directly accessible to the CPU, used for storing currently executing programs and immediately needed data.

Program Instructions

Specific commands or sets of commands designed to be executed by a computer to perform a particular task.

Eight Bit String

A sequence of eight bits (binary digits), often used to represent a single character of text in computer processing.

Byte

A unit of digital information in computing and telecommunications that most commonly consists of eight bits.