A written promise to repay a loan principal plus interest at a specific future date is
A)a promissory note.
B)a line of credit.
C)commercial paper.
D)a product warranty.
E)a returnable deposit.

Question

Quizplus · Accepted Answer

A written promise to repay a loan principal plus interest at a specific future date is known as a promissory note. This is a legally binding document and serves as evidence of the borrower's obligation to repay the loan.

A Written Promise to Repay a Loan Principal Plus Interest