In the repayment of a real estate loan, which type of interest is usually charged on the promissory note?
A. Compound interest.
B. Simple interest.
C. Prepaid interest.
D. Add-on interest.
Answer: B. Simple interest.
Business
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a. true b. false
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Bordelain Company has cash in bank of $20,000, restricted cash in a separate account of $6,000, and a bank overdraft in an account at another bank of $2,000. Kennison should report cash of ________
A) $18,000 B) $20,000 C) $24,000 D) $26,000
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