ABC Company Borrows $P from XYZ Bank on March 3,2010

question 116

Multiple Choice

ABC Company borrows $P from XYZ bank on March 3,2010 by writing a promissory note,due in 6 months at a simple interest rate of 5%.The bank uses ordinary interest in its calculations.If the maturity value of the note is $257,000,what is P? (Answer to nearest dollar)

• A)$250,494
• B)$250,581
• C)$250,596
• D)$250,682

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Definitions:

Inclusive Workplace

An environment that values diversity and incorporates practices that respect and embrace differences among employees.

Diversity

Refers to the inclusion of individuals from various backgrounds, cultures, genders, ethnicities, and beliefs in a group or organization, recognizing and valuing differences.

Disrespectful Behavior

Actions or words that show a lack of courtesy or respect towards others, often creating a hostile environment.

Cyberloafing

The act of using the internet for non-work-related activities during working hours, leading to productivity loss.