A $30,000, Three-Month, 7% Note Payable Was Issued on December

question 75

Multiple Choice

A $30,000, three-month, 7% note payable was issued on December 1, 2015. What is the amount of accrued interest on December 31, 2015?

• A)$175
• B)$267
• C)$133
• D)$275

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Definitions:

Independent Variable

In an experimental setup, the variable that is manipulated or changed to observe its effect on a dependent variable.

Dependent Variable

In an experimental setting, the variable that is being tested and measured, which is expected to change as a result of manipulations to the independent variable.

Dose-Response Relationship

The relationship between the quantity of a drug or other exposure and the magnitude of the effect it has on an organism.

Predictive Validity

The extent to which a test or measurement can accurately forecast or predict future outcomes or behaviors.