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Tech Support Associates Accepts a $5480, 8%, 210-Day Note for Service

question 31

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Tech Support Associates accepts a $5480, 8%, 210-day note for service equipment. The note is dated Sep 5. On Oct 21 the firm discounts the note at a bank, at a 10% discount rate. Find the proceeds.


Definitions:

Underemployment

Failure to use our resources efficiently. A situation in which workers are employed in positions requiring less skill and education than they have or other resources are not employed in their most productive use.

Opportunity Cost

Loss of potential earnings from different choices when one is picked.

Employment Discrimination

It refers to unfair or unequal treatment of an individual or group based on characteristics such as race, gender, age, religion, or disability in the workplace.

Underemployment

A situation in which workers are employed less than they wish or are overqualified for their jobs, resulting in their skills being underutilized.

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