On November 1,2012,EZ Products Borrowed $48,000 on a 5%,10-Year Note

question 150

Multiple Choice

On November 1,2012,EZ Products borrowed $48,000 on a 5%,10-year note with annual installment payments of $4,800 plus interest due on November 1 of each succeeding year.
-Which of the following describes the first installment payment made on November 1,2013?

• A) $4,800 principal plus $2,400 interest
• B) $4,800 principal plus $400 interest
• C) $2,400 principal plus $2,400 interest
• D) $2,000 interest only

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Definitions:

Mission

The key elements of the overall purpose of an organization, brand, or person in the respective spaces.

Vision

Characteristics and principles that an organization or individual values, which will guide its overall actions and make an impact in the community; vision statements bridge various components together in a cohesive statement, tying in brand personality, key attributes, core values, and present and future behavioral intentions.

Brand Voice

The unique personality a brand adopts in its communications, including the language, tone, and style used across its marketing materials.

Message Map

A strategic tool used to align messaging across various channels to ensure consistency and clarity.