Asked by
Austin Bowen
on Nov 09, 2024
Verified
A demand note allows the business to borrow and repay funds up to the maximum amount specified in the agreement throughout the year.
Demand Note
A type of loan agreement where the loan can be called for repayment by the lender at any time.
Maximum Amount
The highest possible quantity or value that can be reached or allowed.
- Appreciate the impact that interest rates, loan durations, and the economic climate have on making financial decisions.
Verified Answer
HS
Learning Objectives
- Appreciate the impact that interest rates, loan durations, and the economic climate have on making financial decisions.