The Interest Charged on a $90,000 Note Payable, at the Rate

question 61

Multiple Choice

The interest charged on a $90,000 note payable, at the rate of 6%, on a 60-day note would be

• A)$5,400.
• B)$2,700.
• C)$1,350.
• D)$900.

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Definitions:

Trypsin

A digestive enzyme produced in the pancreas and secreted into the small intestine, where it breaks down proteins into smaller peptides.

Small Intestine

The part of the gastrointestinal tract between the stomach and large intestine, where most of the digestion and absorption of nutrients takes place.

Duodenum

The first part of the small intestine immediately beyond the stomach, where most chemical digestion takes place.

Jejunum

The mid-section of the small intestine in humans, where most of the digestion and absorption of nutrients occurs.