Assuming a 360-Day Year, When a $30,000, 90-Day, 5% Interest-Bearing

question 128

Multiple Choice

Assuming a 360-day year, when a $30,000, 90-day, 5% interest-bearing note payable matures, total payment will amount to:

• A) $31,500
• B) $1,500
• C) $30,375
• D) $375

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Definitions:

Random Chance

The occurrence of events without a determinable cause, often affecting genetic variations and evolutionary processes in organisms.

Natural Selection

A process in evolutionary biology where organisms with traits better adapted to the environment have higher survival rates and reproductive success, leading to the accumulation of beneficial traits in a population over generations.

Homoplasic Traits

Homoplasic traits are similar features in organisms that evolved independently, not from a common ancestor, often due to convergent evolution or parallel evolution.

Homologous Traits

Features shared by two or more species inherited from a common ancestor.