A Partial Payment Is Made on the Date(s) Indicated A) $90660
B) $925

question 112

Multiple Choice

A partial payment is made on the date(s) indicated. Use the United States Rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year.
- $\begin{array} { l l l l l l } \hline & & \text { Effective } & \text { Maturity } & \text { Partial } & \text { Payment } \\\text { Principal }&\text { Rate } & \text { Date } & \text { Date } & \text { Amount } & \text { Date } \\\hline \$ 1400 & 5.5 \% & \text { April 7 } & \text { August 5 } & \$ 500 & \text { June 18 } \\\hline\end{array}$

• A) $906.60
• B) $925.47
• C) $922.11
• D) $920.43

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Definitions:

Gametophytes

The haploid phase in the life cycle of plants and algae that produces gametes, crucial for sexual reproduction.

Mosses

Non-vascular plants that typically form dense green clumps or mats in moist environments.

Liverworts

Simple, non-vascular plants that are part of the bryophyte group, often found in moist habitats.

Rhizoids

Hair-like extensions from the lower surface of bryophytes and some algae that serve as anchors and absorb water and nutrients from the soil.