Key Enterprises Borrows $12,000 for a Short-Term Purpose

question 75

Multiple Choice

Key Enterprises borrows $12,000 for a short-term purpose.The loan will be repaid after 120 days,with Key paying a total of $12,400.What is the approximate cost of credit using the APY ,or annual percentage yield,calculation?

• A) 4.33%
• B) 10.34%
• C) 12.25%
• D) 12.46%

---

Definitions:

Competitive Advantages

The conditions or factors that put a company or product at a favourable or superior position compared to its competitors.

Pricing Decisions

The process of determining the best price at which to offer a company's products or services to maximize profits.

Marketing Program

A comprehensive plan that outlines the advertising, sales, and marketing efforts for a particular period or for a specific product.

Marketing Strategy

A comprehensive plan formulated to achieve specific goals and objectives related to marketing, including targeting the right audience, positioning of a product or service, and implementing various marketing tactics.