You Sign a Simple Discount Promissory Note for $7,000 at a Discount

question 146

Multiple Choice

You sign a simple discount promissory note for $7,000 at a discount rate of 5%, for 30 months. What are the proceeds?

• A) $6,125
• B) $7,875
• C) $875
• D) $3,500

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Definitions:

Limitations

Constraints or restrictions that may limit the scope, methodology, or outcomes of research, projects, or actions.

Termination of Group

The process or act of disbanding or ending the existence of a group.

Feeling of Rejected

A state of emotional discomfort caused by perceiving oneself as being excluded or disregarded by others.

Settlement House Workers

Individuals involved in social reform through the operation of settlement houses, which provide community services and support to urban poor and immigrant populations.