Ask Question
BusinessBusiness
7 August, 05:57

A 60-day, 9% note for $10,000, dated may 1, is received from a customer on account. the maturity value of the note is

+5
Answers (1)
  1. 7 August, 09:00
    0
    Given:

    60-day, 9% note for 10,000

    The maturity value is: 10,150

    10,000 x 9% x 60/360 = 150 interest

    10,000 + 150 = 10,150

    The 9% is the annual interest on the note.

    60-day is the term of the note.

    The note will mature at the end of July or on August 1st.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A 60-day, 9% note for $10,000, dated may 1, is received from a customer on account. the maturity value of the note is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
An investor is considering two investment, an office building and bonds. He can only invest on of them. The possible return from each investment and their probability are as follows: Office Building Return Probability $50000 0.3 60000 0.2 80000 0.
Answers (1)
It does not make sense to avoid post secondary education because of its cost since in the long run: A) The salary you will earn with a degree will pay back the cost of college over your career. B) You or your parents can write it off your taxes.
Answers (1)
During the initial homeowner meeting, the designer ascertains the homeowner's preferences, financial constraints, and any special needs. A. TRUE B. FALSE
Answers (1)
Exercise 23-8 Sell or process further LO A1 Cobe Company has already manufactured 15,000 units of Product A at a cost of $30 per unit. The 15,000 units can be sold at this stage for $450,000.
Answers (1)
How old do you have to be to obtain a liquor license
Answers (1)
New Questions in Business
What are installment accounts?
Answers (1)
During the last two centuries, after adjustment for inflation, a. corporate bonds have yielded an average annual real return of approximately 7 percent, compared to an average real return of about 3 percent for corporate stocks. b.
Answers (1)
Eaton Electronics uses a periodic inventory system. On March 31, Eaton has two plasma TVs on hand at a cost of $1,800 each (serial numbers 11534892 and 11534894).
Answers (1)
When I called about the cost of these items, it was implied that my total would only be $35.00
Answers (1)
EB4. LO 3.1A product has a sales price of $90 and a per-unit contribution margin of $30. What is the contribution margin ratio?
Answers (1)
Home » Business » A 60-day, 9% note for $10,000, dated may 1, is received from a customer on account. the maturity value of the note is
Sign Up Forgot Password?