Gabrielle Borrows $1,000 from Frank to Pay for School and Gives

question 12

Multiple Choice

Gabrielle borrows $1,000 from Frank to pay for school and gives Frank a note for that amount. Frank wants Gabrielle's father to sign as an accommodation party. Gabrielle's father signs below Gabrielle's signature on the fall of the note. Which of the following statements is true of this case?

• A) Only Gabrielle has primary liability as a maker.
• B) Only Gabrielle's father has primary liability as an accommodation maker.
• C) Gabrielle and her father have the same contractual liability.
• D) Gabrielle has primary liability, and her father has secondary liability.

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Definitions:

\(70e^{-0.5x}\)

An exponential function representing growth or decay, where 70 is the initial quantity and \(-0.5x\) adjusts the rate of increase or decrease.

Real Number

A figure that indicates a quantity on an unbroken scale, comprising both rational and irrational numbers.

Horizontal Asymptote

A horizontal line that a graph approaches as the input or output values become infinitely large in absolute value.

\(15^{-x}\)

An expression representing the reciprocal of 15 raised to the power of x, used in mathematical and financial calculations.