Interest on a $40,000 Note at 10% for 45 Days

question 83

True/False

Interest on a $40,000 note at 10% for 45 days is $493.(Use a 360 day year.Round your answer to the nearest dollar.)

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Definitions:

Entrepreneurs

Individuals who initiate, manage, and assume the risks of starting and running a new business venture.

Vision

A clear and inspiring long-term goal or image of what an organization or individual aims to achieve in the future.

Unexpected Events

Situations or occurrences that take place without prior warning, often causing disruption.

Entrepreneurs

Individuals who initiate, manage, and take on the risks of a business or enterprise with the aim of making a profit.