Calculate the Interest on a 270-Day,11% Note for $36,000

question 154

Multiple Choice

Calculate the interest on a 270-day,11% note for $36,000.(Use a 360-day year to compute interest.Round your answer to the nearest dollar. )

• A)$5,940
• B)$2,970
• C)$3,960
• D)$330

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Definitions:

World Demand

The total need or desire for goods and services across the global market.

Comparative Advantage

The knack of entities, whether they are people, companies, or countries, to bring forth goods or services at opportunity costs that undercut those of competitors.

Opportunity Costs

Opportunity Costs represent the benefits that are foregone by choosing one option over an alternative one.

Specialization

The focus by an individual, firm, or country on producing a limited range of goods or services, often to improve efficiency and productivity.