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If Mega Corp

question 317

Multiple Choice

If Mega Corp. borrows $8,000 and agrees to pay the lender $9,000 in one year, the annual interest rate on the loan is approximately _____%.


Definitions:

Entrepreneur

An individual who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

Entrepreneurs

Individuals who create, launch, and manage new businesses, often taking on considerable risk in the expectation of profit.

Bankruptcy

A legal process involving a person or business that is unable to repay outstanding debts, resulting in the distribution of assets to creditors.

Equity Financing

Exchanging ownership shares for outside investment monies.

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