If XYZ Issued a 60 Day Promissory Note for $40

question 26

Multiple Choice

If XYZ issued a 60 day promissory note for $40 000 at an agreed interest rate of 7% per annum,the amount of interest payable,to the nearest $,is:

• A)$2 800
• B)$1 400
• C)$460
• D)Cannot be calculated without more information

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Definitions:

Strategic Norms

Unwritten rules that align with the long-term goals and strategic objectives of an organization or team, guiding member behavior toward these aims.

Material Resources

Physical or tangible assets that can be utilized to accomplish tasks or achieve objectives.

Working Group

A group of individuals who come together to achieve a specific goal or task, typically within a professional context.

Collective Responsibilities

The shared duties and obligations of a group where each member is accountable to one another for the group's outcomes.