Frankenstein Enterprises Received Two Notes from Customers for Sales That

question 157

Multiple Choice

Frankenstein Enterprises received two notes from customers for sales that Frankenstein made in 2013. The notes included: Note A: Dated 5/31/2013, principal of $120,000 and interest due 3/31/2014.
Note B: Dated 7/1/2013, principal of $200,000 and interest at 8% annually, due on 4/1/2014.
Frankenstein had accrued interest receivable from these notes of $14,400 in its 12/31/2013 balance sheet. What is the annual interest rate on Note A?

• A)9.14%.
• B)8%.
• C)9.74%.
• D)9.44%.

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Definitions:

Internal Reference

A benchmark or standard within an experiment or measurement against which other data or results are compared or calibrated.

Deshielded Proton

A proton in an NMR spectrum that appears at lower field due to its electron cloud being less shielded from external magnetic fields, often indicating an electron-withdrawing group nearby.

Farthest Downfield

In NMR spectroscopy, refers to the signal appearing at the lowest field strength, typically associated with environments experiencing the greatest deshielding.

Signal Intensity

In the context of spectroscopy or imaging, it refers to the magnitude of a detected signal, indicating the presence or concentration of a substance.