The Interest at 6%, on a 60-Day Note for $5,000

question 84

True/False

The interest at 6%, on a 60-day note for $5,000 is $50. (Assume 360 days in a year)

---

Definitions:

Financial Resources

The funds that are available to a business for spending in the form of cash, liquid securities, and credit lines.

Impact/Likelihood Matrix

A tool used in risk management to evaluate risks based on the likelihood of their occurrence and the impact if they do occur.

Manage Risk

The systematic process of identifying, analyzing, and responding to potential risks to minimize their impact on an organization.

Contingency Plan

A strategy designed to take into account future events or circumstances that could affect the operation of a business, ensuring preparedness for unexpected challenges.