Question
13. The four common payroll taxes levied against employers are: 1. 2. 3. 4. 57. A 90-day, 15% note for $100,000 dated March 10, payable
13. The four common payroll taxes levied against employers are:
1.
2.
3.
4.
57. A 90-day, 15% note for $100,000 dated March 10, payable to Rocky Mountain Bank & Trust, is signed by Paul Co.
5. The maturity date of the note is
6. The interest payable at the maturity date is
$
7. The maturity value of the note is
89. Assume that the note referred to in Question 57 was not interest-bearing but was discounted at Third Bank & Trust at a rate of 10%.
8. The amount of the discount is
$
9. The amount of the proceeds is
89. Assume that the note referred to in Question 57 was not interest-bearing but was discounted at Third Bank & Trust at a rate of 10%. |
|
8. The amount of the discount is | $ |
9. The amount of the proceeds is | $ |
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