On May 5,2017,Bennix Sold $1,000,000 of Five-Year,3% Bonds for $900,500

question 42

Multiple Choice

On May 5,2017,Bennix sold $1,000,000 of five-year,3% bonds for $900,500.
From the proceeds,the company paid fees of 100,000.Interest is payable semi-annually on May 5 and November 5.What is the effective rate of interest to 2 decimal places?

• A)3.00%
• B)3.72 %
• C)3.95%
• D)6.27%

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Definitions:

Percuss the Thorax

A diagnostic method involving tapping on the chest wall to assess the condition of the heart and lungs.

Oxygen

A chemical element essential for respiration in most living organisms, and necessary for many combustion processes.

Physical Assessment

A comprehensive examination of a patient to evaluate health status and identify possible physical conditions, typically including inspection, palpation, percussion, and auscultation.

Examination Sequence

The systematic order and methods applied during a medical examination to ensure thoroughness and accuracy.