Please given correct answer general Accounting Lori Koetters was looking at different simple discountnotes available to her. She found a note that would costher $135 in interest at 5% for 60 days. What was the facevalue?(Round your answer to the nearest dollar amount.)

Step 1: Define Discount NoteDiscount notes are debt financial securities. They are issued at a…

Answered: Lori Koetters was looking at different…

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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Lori Koetters was looking at different simple discount notes available to her. She found a note that would cost her $135 in interest at 5% for 60 days. What was the face value? (Round your answer to the nearest dollar amount.)