Interest on a $15,000 Note at 4% for 4 Months

question 53

True/False

Interest on a $15,000 note at 4% for 4 months is $200.

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Definitions:

Proximate Cause

In tort law, the connection between the unreasonable conduct and the resulting harm. Proximate cause is determined by asking whether the harm that resulted from the conduct was foreseeable at the time of the original negligent act.

Actual Cause

In tort law, the relationship between the unreasonable conduct and the injury to the innocent party, whether the injury was or was not foreseeable. Actual cause is also referred to as cause-in-fact.

Equal Credit Opportunity Act

A U.S. law that aims to give all individuals an equal chance to apply for loans and other forms of credit, regardless of race, religion, national origin, gender, age, or marital status.

Public Assistance Income

Financial support provided by government agencies to individuals and families who have low income or no income, to help them meet their basic needs.