The Maturity Value of a 90-Day Note for $8,000 That

question 37

Multiple Choice

The maturity value of a 90-day note for $8,000 that bears interest at 10 percent a year is

• A) $7,800.
• B) $8,000.
• C) $8,200.
• D) $8,800. 8,000 x 90/360 x .1 = 200; 8,000 + 200 = $8,200.

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Definitions:

Conformity

The process of aligning one's attitudes, beliefs, and actions with the norms, politics, or resemblances of a group.

Collectivist Cultures

Collectivist cultures emphasize the needs and goals of the group as a whole over the desires and wishes of the individual, contrasting with individualistic societies.

Conformity

Conformity is the act of adjusting one's behaviors or beliefs to align with the norms or standards of a group or society.

Groupthink

A psychological phenomenon occurring within a group of people, where the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.