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Congress and the States Moved Quickly to Pass the Twenty-Sixth

question 38

Multiple Choice

Congress and the states moved quickly to pass the Twenty-Sixth Amendment, which lowered the voting age to 18, because of which of the following?


Definitions:

Collection Expected

This refers to the amount of money a business anticipates receiving from its customers who have purchased goods or services on credit.

Maturity Date

The date on which the principal amount of a loan, bond, or other financial instrument becomes due and payable.

Note Receivable

A written promise for amounts to be received by a creditor from a debtor, typically generating interest income for the holder.

Interest

The cost of borrowing money or the payment received for the investment of money, typically expressed as a percentage of the principal.

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