Bob Marby Purchased a TV from Tryton Sales and Signed

question 89

Multiple Choice

Bob Marby purchased a TV from Tryton Sales and signed a 2-year, 8% promissory note for $1,000. What is the amount required to pay off the note if it accrues simple interest over the term of the loan?

• A) $840
• B) $1,080
• C) $1,160
• D) $920

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Definitions:

Justification Reports

Documents that provide reasons or rationale as to why a certain decision or action is preferred or proposed.

Organizational Plans

Detailed proposals for achieving specific goals within an organization.

Business Description

A detailed overview of a business, including its purpose, offerings, market position, and key objectives, typically found in business plans or company profiles.

Feasibility Study

An assessment of the practicality and viability of a proposed project or system.