A Store Manager Obtained a Loan of $25,000, At $6 \frac { 3 } { 8 } \%$

question 50

Multiple Choice

A store manager obtained a loan of $25,000, at $6 \frac { 3 } { 8 } \%$ interest, for 15 months to purchase supplies. Find the amount of simple interest. (Round to the nearest cent)

• A) $1,992.19
• B) $2,502.25
• C) $1,721.13
• D) $2,125.37

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Definitions:

Bargaining in Good Faith

The duty of parties to a negotiation to communicate honestly and seriously with the intention to reach an agreement.

Incremental Sales Revenue

Additional revenue generated from sales activity above a previously established base level.

Incremental Marketing Effort

Marketing activities that are added gradually to test their effectiveness or to build upon the existing strategy.

SWOT Analysis

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.