Question
Assuming a 360-day year, the interest charged by the bank, at the rate of 9%, on a 90-day, discounted note payable of $141,600 is ______
Assuming a 360-day year, the interest charged by the bank, at the rate of 9%, on a 90-day, discounted note payable of $141,600 is ______ . Round your answer to the nearest whole dollar.
a. $141,600
b. $3,186
c. $6,372
d. $12,744
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Risk Based Auditing
Authors: Phil Griffiths
1st Edition
0566086522, 9780566086526
