Examlex
Change the following improper fraction to a whole or mixed number.
1,500/100 = _____
Opportunity Cost
The cost of foregoing the next best alternative when a decision is made to choose one option over others.
Credit Commitment
An agreement by a lender to extend a specified amount of credit to a borrower under certain terms and conditions.
Promissory Note
A financial instrument in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand.
Conditional Sales Contract
A sale agreement stating that the sale is conditional upon certain terms, often including the circumstances under which ownership is transferred.
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