A debtor owes $3,675 on August 24th. The Note Holder sells the Note to a THIRD PARTY on May 17th, who wants an 11% Simple Interest Return. What does the Debtor Owe on August 24th? What does the THIRD PARTY pay for the note? (Use Banker's Rule, Round to the nearest penny, NO dollar signs, USE commas)

A debtor owes $3,675 on August 24th. The Note Holder sells the Note to a THIRD PARTY on May 17th, who wants an 11% Simple Interest Return. What does the Debtor Owe on August 24th? What does the THIRD PARTY pay for the note? (Use Banker's Rule, Round to the nearest penny, NO dollar signs, USE commas)

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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