Solve the Problem. -Central Building Company Borrowed $18,722 on a 94-Day Simple Interest

question 108

Multiple Choice

Solve the problem.
-Central Building Company borrowed $18,722 on a 94-day simple interest note to expand their business. The note carried an interest rate of 7.9%. Find the maturity value of the note.

• A)$19,113.63
• B)$19,108.19
• C)$18,760.09
• D)$18,335.81

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Definitions:

External Factor

An influence originating outside an individual or system that can impact the outcome of processes or behaviors.

Internal Factor

An influence originating from within a person, such as beliefs, desires, and personality traits, affecting their behavior and attitudes.

Future Expectations

Anticipations or beliefs about what will happen in the future, often influencing current decisions or behaviors.

Cultural Lens

The perspective through which an individual's culture influences their interpretation and understanding of the world.