Ben Inc Recently Signed a $350,000, Six-Month Note on August 22

question 47

Multiple Choice

Ben Inc. recently signed a $350,000, six-month note on August 22, 2013. The interest rate is 6.5%. How much total interest will be due on the note at maturity?

• A)$9,479
• B)$22,750
• C)$11,375
• D)$7,583

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Definitions:

Imagery

the use of vivid or figurative language to represent objects, actions, or ideas, often enhancing mental visualization, creativity, or therapeutic processes.

Sensory Memory

Memory system that involves holding information from the world in its original sensory form for only an instant, not much longer than the brief time it is exposed to the visual, auditory, and other senses.

Procedural Memory

Memory for skills.

Long-term Memory

A type of memory capable of storing information for an extended period of time, from hours to a lifetime.