In calculating interest on a note,it is necessary to take which of the following into consideration?
A)The bank
B)The principal
C)The payee
D)The maker

Name: In calculating interest on a note,it is necessary to take which of the following into consideration? A)The bank B)The principal C)The payee D)The maker
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Question

Quizplus · Accepted Answer

The principal amount is the initial sum of money borrowed or invested, on which interest is calculated. It is a key factor in determining the total interest on a note.

In Calculating Interest on a Note,it Is Necessary to Take