Heather owes Mark $10.000 payable on September 2021. If money can earn 12 %, what amount should Mark accept in settlement of the debt: A) 30 days before the scheduled payment? B) 90 days before the scheduled payment?

Heather owes Mark $10.000 payable on September 2021. If money can earn 12 %, what amount should Mark accept in settlement of the debt: A) 30 days before the scheduled payment? B) 90 days before the scheduled payment?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 61P

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Question

Heather owes Mark $10.000 payable on September 2021.
If money can earn 12 %, what amount should Mark accept in settlement of the debt:
A) 30 days before the scheduled payment?
B) 90 days before the scheduled payment?

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