Answered: 6) A company receives a 5%, 90-day note…

6) A company receives a 5%, 90-day note for $5,400. The total interest due on the maturity date is: (Use 360 days a year.) A) $67.50. B) $270.00. C) $157.50. D) $135.00. E) $90.00.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

6)
A company receives a 5%, 90-day note for $5,400. The total interest due on the
maturity date is: (Use 360 days a year.)
A) $67.50.
B) $270.00.
C) $157.50.
D) $135.00.
E) $90.00.

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