A Partial Payment Is Made on the Date(s) Indicated A) $90660
B) $925

question 112

Multiple Choice

A partial payment is made on the date(s) indicated. Use the United States Rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year.
- $\begin{array} { l l l l l l } \hline & & \text { Effective } & \text { Maturity } & \text { Partial } & \text { Payment } \\\text { Principal }&\text { Rate } & \text { Date } & \text { Date } & \text { Amount } & \text { Date } \\\hline \$ 1400 & 5.5 \% & \text { April 7 } & \text { August 5 } & \$ 500 & \text { June 18 } \\\hline\end{array}$

• A) $906.60
• B) $925.47
• C) $922.11
• D) $920.43

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Definitions:

Referent Power

Influence based on being admired or respected, allowing individuals to persuade others because of their personality, integrity, or other attractive traits.

Coercive Power

The ability to influence others' behavior by threats, punishment, or negative reinforcement.

Reward Power

The ability of an individual to influence others' actions by controlling the allocation of rewards.

Compliance

The behavior of targets of influence who agree to readily carry out the requests of the leader.