The principal amount on a $1,800, 4%, 60-day promissory note is: (Do not round any intermediate calculations. Round your final answer to the nearest cent.)
A) $12.00
B) $1,800
C) $72
D) $1,812.00

Question

Quizplus · Accepted Answer

The principal amount refers to the original sum of money borrowed or invested, excluding any interest or dividends. In this context, the principal amount is the original amount of the promissory note, which is $1,800.

The Principal Amount on a $1,800, 4%, 60-Day Promissory Note