A Business Accepts a 12 Percent, $47,000 Note Due in Three

question 23

Multiple Choice

A business accepts a 12 percent, $47,000 note due in three years. Assuming simple interest, how much will the business receive when the note falls due?

• A) $52,640
• B) $63,920
• C) $58,280
• D) $47,000

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Definitions:

Best Possible Decision

The most favorable outcome derived from available alternatives, taking into account all known information, restrictions, and goals.

Confirmation Bias

The inclination to seek out, interpret, prefer, and remember information that corroborates an individual's already existing beliefs or assumptions.

Problem Identification

The process of recognizing and defining an issue that impedes the achievement of a goal.

Too Much Information

A situation where an individual is overwhelmed by an excessive amount of data or facts, making it difficult to make decisions.