The Face Value of a Note Is $7,000 with an Interest

question 33

Multiple Choice

The face value of a note is $7,000 with an interest rate of 11%. The time is based on 90 days in a 360-day year, and the loan was taken out on February 11 in a nonleap year. The note has been discounted 14% on March 10. What are the proceeds?

• A) $1,285.42
• B) $1,293.53
• C) $7,016.28
• D) $7,360.33

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Definitions:

Foreign Military Intervention

The involvement of a country's military forces in another country's affairs, which can range from advisory roles to full combat operations.

Cultural Pluralism

A concept or policy that promotes the respect, acceptance, and preservation of different cultural identities within a society, allowing for diverse traditions and customs to coexist.

Internalized Sanctions

Penalties or social controls that individuals impose upon themselves, often as a result of socialization, to conform to societal norms or laws.

Genocide

The deliberate and systematic extermination of an ethnic, racial, national, or religious group, aiming to destroy its members in whole or part.