A $49,000,three-Month,12% Note Payable Was Issued on December 1,2018

question 146

Multiple Choice

A $49,000,three-month,12% note payable was issued on December 1,2018.What is the amount of accrued interest on December 31,2018? (Do not round any intermediate calculations,and round your final answer to the nearest dollar.)

• A) $490
• B) $708
• C) $354
• D) $823

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Definitions:

Cause-And-Effect

The relationship between events where one or more events cause another event to occur, explaining how and why things happen.

Positive Symptom

An excess or distortion of normal functions or behaviors, often used to describe a symptom in psychiatric disorders.

Anabolic Steroid Abuse

The misuse of synthetic substances related to testosterone, often to enhance athletic performance or physical appearance, with potential harmful side effects.

Increased Muscle

Refers to the growth or enhancement of muscle mass and strength, often as a result of physical exercise.