A Company Borrowed $10,000 by Signing a 180-Day Promissory Note

question 115

True/False

A company borrowed $10,000 by signing a 180-day promissory note at 5% interest. The total amount of interest is $25.
$10,000 * .05 * 180/360 = $250

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Definitions:

Mentally Ill

Mentally Ill describes individuals suffering from mental health conditions that affect their mood, thinking, and behavior, leading to distress or impaired functioning.

Humane

Characterized by compassion, kindness, and the avoidance of harm or cruelty to others, including animals.

Rational Approach

A method or strategy based on logic and reasoning, typically aimed at solving problems or making decisions.

Unpredictable

Not able to be predicted; capable of changing or varying without apparent reason or pattern.