An Investor Borrowed $10,000 to Buy Shares of Stock of a Chain

question 60

Short Answer

An investor borrowed $10,000 to buy shares of stock of a chain of retail gift stores. The loan was for 120 days at 9% ordinary simple interest. Compute the interest that the investor will pay on the due date. (Use a 360-day year.)​

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Definitions:

Job Description

A formal account of an employee's responsibilities, duties, and the scope of work required by their position.

Effective

The degree to which something is successful in producing a desired or intended result.

Pay Equity Legislation

Laws designed to reduce the wage gap between genders and different ethnic groups by ensuring equal pay for work of equal value.

Job Comparison Methods

Techniques used to evaluate and compare the responsibilities, requirements, and value of jobs within an organization to ensure fair and equitable compensation.