Interest on a $3,000, 5% promissory note for six months is:
A) $75.
B) $7.50.
C) $750.
D) $0.75.
Correct Answer:
Verified
Q10: Principal refers to:
A) the amount of interest
Q11: The person or company promising to pay
Q12: Given a 360-day year, the interest expense
Q13: Feinstein Analytics is borrowing $12,400 at 8%
Q14: Using a 360-day year, interest calculated for
Q16: The maturity date for a 94-day note
Q17: Sarah borrowed $2,200 from Cassandra. Sarah promised
Q18: An advantage of a promissory note receivable
Q19: The basic formula for calculating the interest
Q20: John borrowed $1,030 from Melanie. John promised
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