Determine the maturity date and compute the interest for the following note payable with add- on interest: Date of Note Principal Interest Rate (%) Term Sep-15 1,200 8% 75 days
Determine the maturity date and compute the interest for the following note payable with add- on interest: Date of Note Principal Interest Rate (%) Term Sep-15 1,200 8% 75 days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounting
Transcribed Image Text:Determine the maturity date and compute the
interest for the following note payable with add-
on interest:
Date of Note Principal Interest Rate (%) Term
Sep-15
1,200 8%
75 days
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