On July 7, University Bank lent $520,000 to Jazz Music Shop on a 60 day, 7% noto What is the maturity value of the note? (Use a 365-day year. Do not round intermediate calculations, and round the final answer to the nearest dollar) OA. $525,984 OB. $526,067 OC. $520,000 OD. $556,400 Cirma)

On July 7, University Bank lent $520,000 to Jazz Music Shop on a 60 day, 7% noto What is the maturity value of the note? (Use a 365-day year. Do not round intermediate calculations, and round the final answer to the nearest dollar) OA. $525,984 OB. $526,067 OC. $520,000 OD. $556,400 Cirma)

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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Question

On July 7, University Bank lent $520,000 to Jazz Music Shop on a 60 day, 7% noto What is the maturity value of the note? (Use a 365-day year. Do not round intermediate
calculations, and round the final answer to the nearest dollar)
OA. $525,984
OB. $526,067
OC. $520,000
OD. $556,400
Cirma)

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