A $37,000,three-Month,11% Note Payable Was Issued on December 1,2017

question 171

Multiple Choice

A $37,000,three-month,11% note payable was issued on December 1,2017.What is the amount of accrued interest on December 31,2017? (Do not round any intermediate calculations,and round your final answer to the nearest dollar. )

• A)$339
• B)$493
• C)$247
• D)$565

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Definitions:

Ghrelin

A substance primarily secreted by the stomach that promotes hunger and instructs the brain to consume more food.

Hypothalamus

A region of the brain responsible for the regulation of certain metabolic processes and other activities of the Autonomic Nervous System, including temperature control, hunger, and thirst.

Hunger-Arousing Hormone

A hormone, such as ghrelin, that regulates hunger signals and stimulates appetite.

Hierarchy Of Needs

A theory in psychology proposed by Abraham Maslow that posits a five-tier model of human needs, ranging from basic (physiological) to more complex (self-actualization) needs.