An amount is invested at 16%, compounded quarterly, for 5 years. What number of periods and what rate would be used to find a future value factor from the tables in order to calculate the future value of this investment?

		a. 20 periods at 16%
		b. 5 periods at 16%
		c. 20 periods at 4%
		d. 5 periods at 4%

An investment earning 12% interest compounded monthly, will accumulate to a greater amount in the future than an equal investment earning 12% compounded quarterly (assume that the two alternatives would be invested for the same amount of time).

		a. True
		b. False

Jones Co. borrowed $15,000 from the bank on September 30, issuing the bank a 6% note due on December 29. The entry to record accrued interest on the note on October 31 (31 days after the note was made) would include (use a 365-day year):

		a. a credit to Interest Payable for $76.44
		b. a credit to Interest Payable for $221.92
		c. a credit to Interest Expense for $76.44
		d. a debit to Interest Expense for $221.92