Use the Chart Below to Answer the Following Questions Regarding

question 77

Multiple Choice

Use the chart below to answer the following questions regarding flow chart symbols.

-Which symbol would be used in a flowchart to represent a communication link?

• A)#12
• B)#13
• C)#11
• D)#15

Understand the concept of discounting the face value of a loan and how it affects the borrower's proceeds.

Calculate the amount of discount and proceeds for various loans.

Determine the actual interest rate based on proceeds rather than the face value using different day counts (365-day and 360-day years).

Apply knowledge of non-interest-bearing notes and how they are discounted.

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Definitions:

Profit

The financial gain achieved when the revenues generated from business activities exceed the expenses, costs, and taxes involved in maintaining the activity.

Consistently

Consistently refers to acting or performing in the same manner over time, ensuring uniformity and reliability in behavior or outcomes.

Significant Achievement

A considerable or noteworthy accomplishment that marks progress toward a goal.

Purpose

The reason for which something is done or created or for which something exists.