On July 7,Smithview Bank Lent $440,000 to Andrews Retail Shop

question 163

Multiple Choice

On July 7,Smithview Bank lent $440,000 to Andrews Retail Shop on a 90 day,7% note.What is the maturity date of the note?

• A)October 7
• B)October 5
• C)October 6
• D)October 8

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Definitions:

Markets for Factors

Places where factors of production (such as labor, capital, and land) are bought and sold, affecting their prices and allocation.

Markets for Goods

Places or platforms where goods and physical products are bought and sold, ranging from physical marketplaces to online stores.

Flow of Dollars

The movement of money through an economy, tracking how dollars are transferred from one sector to another.

Circular-Flow Diagram

A Circular-Flow Diagram is a visual model of the economy that shows how dollars flow through markets among households and firms.