Intercity Industries Accepted a One-Year, Non-Interest-Bearing Note with a $21,000

question 59

Multiple Choice

Intercity Industries accepted a one-year, non-interest-bearing note with a $21,000 face value in exchange for goods with a sale price of $19,534.What was the implied interest rate on the note?

• A)There is no implied interest rate.
• B)7.8%
• C)7.5%
• D)6.9 %

Understand the rationales behind imposing and removing price controls.

Evaluate the impact of supply and demand changes under different price controls.

Analyze the historical context and effects of specific price controls, such as those on gasoline.

Understand the rationale and effects of rent control policies.