Ask Question
25 February, 17:24

A legal written promise to pay borrowed money back at a fixed rate of interest over a fixed period of time is a

+1
Answers (1)
  1. 25 February, 20:05
    0
    The answer is Promissory Note

    Explanation:

    The most common document used to register a loan and guarantee this is paid back is a Promissory Note. In this, the parties involved register the amount of money that was borrowed and the borrower promises through the document to pay this amount of money before a fixed specific date. Also, promissory notes register the rate of interest that will be paid by the borrower. Besides this, a promissory note is a legal document that registers the loan and can be used as a legal instrument in case the money is not paid back.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A legal written promise to pay borrowed money back at a fixed rate of interest over a fixed period of time is a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers