Multiple Choice
Bob Marby purchased a TV from Tryton Sales and signed a 2-year, 8% promissory note for $1,000. What is the amount required to pay off the note if it accrues simple interest over the term of the loan?
A) $840
B) $1,080
C) $1,160
D) $920
Correct Answer:
Verified
Correct Answer:
Verified
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