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navik [9.2K]
4 years ago
15

The following 12%, $1,000 notes were issued on December 1. Which of the following is the correct method of calculation for the i

nterest accrued as of December 31 of the same year on each of the notes described? Select one:
A. Interest on a 4-month note is calculated as: $1,000 × 12% × 1/12.
B. Interest on a 3-month note is calculated as: $1,000 × 12% × 1/3.
C. Interest on a 2-year note is calculated as: $1,000 × 12% × 1/24.
D. Interest on a 4-month note is calculated as: $1,000 × 12% × 1/4.
Business
1 answer:
Aliun [14]4 years ago
5 0

Answer:

A) Interest on a 4-month note is calculated as: $1,000 × 12% × 1/12.

Explanation:

Each note is worth $1,000

Each note carries a 12% interest rate

Only one month has passed since the notes were issues, so the time = 1/12

Therefore the interest accrued from December 1 to December 31 = note value x note's interest x time = $1,000 x 12% x 1/12 = $10

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When a nation exports a good, its total surplus "increase", and when it imports a good, its total surplus "increase".

<h3>What is export of goods?</h3>

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Some key point regarding exporting are-

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