Question
1.) The amount of interest on a 10,500 , 90 day, 9 % note payable is? $________ 2.) The maturity value of a $12,000, 45-day,8%
1.) The amount of interest on a 10,500 , 90 day, 9 % note payable is? $________
2.) The maturity value of a $12,000, 45-day,8% note receivable is? $_______
3.) When one borrows from a bank that charges a discount rate of 8.5%, the amount one actually receives on an $8,500, 60-day, non-interest bearing note payable is? $_______
4.) The due date of a 90-day note dated June 12th is? __________
5.) The due date of a 4 month note dated September 10 is ?_________
6.) The discount period of a $12,000, 90-day, 7.5 % note, dated March 15 and discounted April 18, is _____ days.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started