The difference between the amount received from a note payable and the amount repaid is:
A) Interest.
B) Principal.
C) Face value.
D) Discount.
E) Premium.

Name: The difference between the amount received from a note payable and the amount repaid is: A) Interest. B) Principal. C) Face value. D) Discount. E) Premium.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

The difference between the amount received from a note payable and the amount repaid is the interest, which is the cost of borrowing the principal amount.

The Difference Between the Amount Received from a Note Payable