5 Find the present value on November 30, a 60 day, 9% note for $1600 issued October 28 if money is worth7%

Notes:A financial document that describes the conditions of a loan, such as the principle amount,…

Answered: Find the present value on November 30,…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...

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Similar questions

Calculate the interest on a 270−day, 11% note for $50,000. (Use a 365−day year. Do not round intermediate calculations, and round the final answer to the nearest dollar.) A. $8,250 B. $458 C. $4,068 D. $5,500
The interest on a $3,000, 10%, 180-day note receivable is (assume 360 days per year) O $150 O $3.300 O $300 $3000 Onmi ERCO DUTO
The interest on a $ 21000, 6%, 60-day note receivable is (Use 360 days for calculation.) $ 210. $ 630. $ 420. $ 1260.
on June 8th Alton Co issued an $70620 11% 120 Day note payable to seller Co. Assuming a 360 day year for your calculations what is the maturity value of the note? When required, round your answer to the nearest dollar.
What is the annual rate of interest being charged on a 9-month note receivable of $54,000 if the total interest is $1,620? Multiple Choice O 4% 3% 6% 7%
A non-interest bearing note has a face value of $3000. The note is due 96 days from today. Money is currently worth 8% per annum. Find the present value of the note. Select one: a. $2938 b. $3063 c. $2778 d. $2923
The interest charged on a $392000 note payable, at the rate of 6%, on a 60-day note would be (Use 360 days for calculation.) $11760. $23520. $5880. $3920.
What is the maturity value of a $30,000, 12%, six-month note?a. $28,200b. $33,600c. $30,000d. $31,800
Assuming a 360-day year, when a $12,750, 90-day, 11% interest-bearing note payable matures, total payment will amount to: Select the correct answer. $1,403 $14,153 $13,101 $351
Calculate the amount of interest that the following note will earn (for the life of the note). Please show work! $1,000 Face 7% interest Term: 90 days
On June 8, Alton Co. issued an $75,537, 7%, 120-day note payable to Seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. Select the correct answer. $5,288$75,537$80,825$77,300
On June 8, Williams Company issued an $85,200, 9%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar. a.$85,200 b.$7,668 c.$87,756 d.$92,868

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Find the present value on November 30, a 60 day, 9% note for $1600 issued October 28 if money is worth 7%