Jessifraser9072 Jessifraser9072
  • 27-08-2020
  • Business
contestada

A 90 day, 12% note for $20,000 dated July 1 is received from a customer. What is the maturity value of the note

Respuesta :

tutorAnne
tutorAnne tutorAnne
  • 28-08-2020

Answer:maturity value of the note= $20,600

Explanation:

Interest = Principal x Rate x period /time

Assuming 360 days = 1 year  

Interest = 20000 x 12% x 90/360

Interest = $600

Maturity value = Principal amount + interest accrued on due date

$20000 + $600 = $20,600.

Answer Link

Otras preguntas

How many moles are in 22 grams of argon (Ar)?
how did european imperialism contribute to the start of world war 1?
What is 23 remainder 1 as a fraction
Catherine the Great of Russia __________. improved the lives of the Russian serfs introduced Catholicism into her country expanded Russia's territory eliminated
what is 155.43 rounded to the nearest whole number ?
Mark each statement if it correctly describes herding and farming in Mesopotamia. A. Herders stayed in one location and did not move their animals in search of
Which is the correct explanation for 40°N latitude? A. all positions along a circle that runs parallel to the equator and 40° south of it B. all positions along
a model house is built on a base that measures 9 1/4 in. wide and 8 4/5in. long. what is the total area of the model houses base?
Which civilization created a number system using bars and dots, and based it on the number 20? Inca Aztecs Olmec Maya
the continent of africa lies: a. below the equator b. above the equator c. both below and above the equator d. in the eastern hemisphere only