Boat Company Signed a 12-Month, $40,000, 8% Note on June

question 148

Multiple Choice

Boat Company signed a 12-month, $40,000, 8% note on June 1, 2012. The amount of interest to be accrued on December 31, 2012, is (round to nearest dollar) :

• A) $1,200.
• B) $1,600.
• C) $1,867.
• D) $3,200.

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Hardware devices used for reading data stored on CD-ROMs, typically used for distributing software and storing media in the past.

Tariffs

Taxes on imports or exports between sovereign states, used to control trade, raise government revenue, or protect domestic industries.

United States

A country located in North America, consisting of 50 states and a federal district, known for its large economy and diverse population.

Quantity Demanded

The aggregate quantity of a product or service that buyers are prepared and capable of buying at a specified price.