Calculate the due date, interest due, and maturity value of the following notes: Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due Maturity Value a. 24-Apr $70,000 3% 60 days b. 13-Jul 30,000 5% 120 days c. 9-Aug 40,000 4% 45 days d. 12-Sep 60,000 8% 90 days e. 5-Nov 50,000 6% 30 days
Calculate the due date, interest due, and maturity value of the following notes: Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due Maturity Value a. 24-Apr $70,000 3% 60 days b. 13-Jul 30,000 5% 120 days c. 9-Aug 40,000 4% 45 days d. 12-Sep 60,000 8% 90 days e. 5-Nov 50,000 6% 30 days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| Calculate the due date, interest due, and maturity value of the following notes: | |||||||||
| Date of Note | Face Amount | Interest Rate | Term of Note | Due Date | Interest Due | Maturity Value | |||
| a. | 24-Apr | $70,000 | 3% | 60 days | |||||
| b. | 13-Jul | 30,000 | 5% | 120 days | |||||
| c. | 9-Aug | 40,000 | 4% | 45 days | |||||
| d. | 12-Sep | 60,000 | 8% | 90 days | |||||
| e. | 5-Nov | 50,000 | 6% | 30 days |
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