Compute the Missing Amount for Each of the Following Notes

question 52

Essay

Compute the missing amount for each of the following notes: $\begin{array} { c c c c c } & \text { Principal } & \text { Annual Interest Rate } & \text { Time } & \text { Total Interest } \\\hline \text { (a) } & \$ 40,000 & 10 \% & 2.5 \text { years } & ? \\\hline \text { (b) } & \$ 120,000 & ? & 9 \text { months } & \$ 7,200 \\\hline \text { (c) } & ? & 10 \% & 90 \text { days } & \$ 1,500 \\\hline \text { (d) } & \$ 40,000 & 9 \% & ? & \$ 1,200 \\\hline\end{array}$

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Definitions:

Board of Directors

A group of individuals elected by shareholders to make major decisions and oversee the management of a corporation.

Shares of Stock

Units of ownership in a corporation that represent a claim on a portion of the corporation's assets and earnings.

Transferable

Capable of being passed from one entity to another, either through sale, gift, or by operation of law, thereby changing ownership or rights.

Supermajority Shareholder Voting

A voting requirement that exceeds the threshold of a simple majority, often used for significant decisions in a corporation.