If you borrowed $75K at 8%, how much interest would you pay in 1 year and also in 5 years?

$6,000 first year and $30,000 in five years

What are the four types of sales transactions?

Cash drawer; Purchase Order & Invoice; Sales slip; Sales tax

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Entrepreneurship Chapter 2 Vocab

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Answers

1
If you borrowed $75K at 8%, how much interest would you pay in 1 year and also in 5 years?
$6,400 the first year and $25,000 in five years
$3,500 the first year and $15,000 in five years
$6,000 first year and $30,000 in five years
You will pay $6,400 the first year and $64K in five years
2
A short written form of business communication that has a set format
consensus
interoffice memo
memorandum
brainstorming
3
The percent that is the basis for the interest earned or paid.
term
rate of interest
principal
interest
4
How much of a markup is there on an item that you purchased for $45 and sold for $54?
$7
$8
$10
$9
5
A memo from one person in a company to another
brainstorming
consensus
memorandum
interoffice memo
6
An amount of money borrowed in a loan
rate of interest
principal
term
discount
7
An amount charged for borrowing money
rate of interest
principal
interest
discount
8
An amount added to the cost price to determine the sales price
markdown
term
markup
principal
9
What are the four types of sales transactions?
Growth rate; Cash drawer; Sales Tax; Invoices
Purchase order & invoice; sale tax; cash drawer; Growth rate
Invoices; Purchase Orders; Sales Tax; Sales Slips
Cash drawer; Purchase Order & Invoice; Sales slip; Sales tax
10
creative group problem-solving technique that involves generating a large number of fresh ideas
brainstorming
interoffice memo
principal
consensus
11
An amount deducted from the retail price to determine the sales price
interest
discount
markdown
markup
12
Number of years for which a loan is extended
term
markup
markdown
rate of interest
13
An agreement among a group of people
consensus
Term
interest
memorandum

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