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Solve the problem.
-On January 5, the temperature at a camp site near the arctic circle was -28° Fahrenheit. The temperature rose 3° F per day for 4 days. What was the temperature on January 9th?
Opportunity Cost
The cost of foregoing the next best alternative when a decision is made to choose one option over others.
Credit Commitment
An agreement by a lender to extend a specified amount of credit to a borrower under certain terms and conditions.
Promissory Note
A financial instrument in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand.
Conditional Sales Contract
A sale agreement stating that the sale is conditional upon certain terms, often including the circumstances under which ownership is transferred.
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