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:

Retail Pricing

The strategy and process of setting the sale price of goods sold directly to the consumer, taking into account factors like cost, market demand, and competition.

Store Location

The geographical place where a retail store is situated, which can significantly affect its foot traffic and profitability.

Markup

Markup refers to the difference between the cost of a good or service and its selling price, expressed as a percentage of the cost.

Market Conditions

The various factors that influence the demand for and supply of products or services within a market.