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Use Future Value Tables or your calculator to complete the requirement below. Montpelier Transportation invested $70,000 in a tax-anticipation note on June 30, 2020. The
Use Future Value Tables or your calculator to complete the requirement below. Montpelier Transportation invested $70,000 in a tax-anticipation note on June 30, 2020. The note earns 12% interest compounded monthly (1% per month) and matures on March 31, 2021. Required: 1. Complete the information needed to prepare a cash flow diagram for this investment. n = i = 1 x months 12 % per month Amount of Payment or Deposit 6/30/20 3/31/21 Unknown future value amount 2. Determine the amount Montpelier will receive when the note matures. Round your answer to the nearest cent, if rounding is required. 3. Determine how much interest Montpelier will earn on this investment from June 30, 2020, through December 31, 2020. Round your answer to the nearest cent, if rounding is required. Feedback Check My Work Partially correct Check My Work Previous All work saved. Save and Exit Submit Assignment for Grading
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