A Business Accepts a 12 Percent,$94,000 Note Due in Three

question 76

Multiple Choice

A business accepts a 12 percent,$94,000 note due in three years.Assuming simple interest,how much will the business receive when the note falls due?

• A)$105,280
• B)$127,840
• C)$116,560
• D)$94,000

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Definitions:

Ethnocentrism

The belief that one's own culture, nation, or ethnicity is superior to all others.

Family Bed

The practice of parents and children sleeping together in the same bed.

Spoiling

The act of damaging or diminishing the value or quality of something, often used in the context of child rearing to describe excessive indulgence.

Stereotype

A fixed, overgeneralized belief about a particular group or class of people.