Examlex

Solved

By Borrowing the Money on the Last Day of the Discount

question 38

Essay

By borrowing the money on the last day of the discount period and repaying it on the last day of the credit period,the loan would be outstanding for 20 days (30-10).Interest on the loan is calculated at 9% for 20 days.The amount saved is the difference between the discount received for paying on time and the amount of interest expense that would be paid to the bank.


Definitions:

Drive For Mastery

The innate or acquired desire to improve one's skills, knowledge, or competence in a particular area.

Physical Attractiveness

The degree to which a person's physical features are considered aesthetically pleasing or beautiful.

Characteristic Of Men

Attributes or traits commonly associated with or considered typical of male human beings.

Contempt

A feeling of disdain or disrespect towards someone or something considered worthless or inferior.

Related Questions