Punjab Company borrowed $114,000 from its bank. Punjab will repay $150,000 in 7 years. What is the approximate interest rate that Punjab will incur on this loan, assuming annual compounding?

When a testator intends to make a general gift but wishes to have it satisfied out of a specific property, this is an example of a ___legacy.

a. demonstrative b. general c. specific d. lapsed

Assuming that a franchise agreement establishes the franchisee as an independent contractor in

relation to the franchisor, the franchisor and franchisee are not liable for each other's torts. Indicate whether the statement is true or false