A Business Accepts a 12 Percent,$19,000 Note Due in Three

question 86

Multiple Choice

A business accepts a 12 percent,$19,000 note due in three years.Assuming simple interest,how much will the business receive when the note falls due?

• A) $21,280
• B) $25,840
• C) $23,560
• D) $19,000

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Definitions:

Stealing Share

Refers to marketing strategies aimed at winning customers from competitors, thus increasing one's market share at the expense of others.

Market Growth

The increase in demand or sales opportunities in a given market over time, often measured by the percentage increase in market size.

Forward Selling

The practice of selling goods or securing orders for a product before it is available or ready to be shipped.

Forward Buying

Refers to the practice of purchasing goods in advance of when they are needed, often in anticipation of price increases or to ensure sufficient stock.