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shall be paid on September 15, 20X2. Find the final amount at the end of the load period.(Use banker's rule)

shall be paid on September 15, 20X2. Find the final amount at the end of the load period.(Use banker's rule)

FINANCIAL ACCOUNTING
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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3. On January 10, 20X2, a promissory note was signed with the principal of One hundred forty-five thousand forty-two and 34/100. This promissory is an interest-bearing note at 7% and shall be paid on September 15, 20X2. Find the final amount at the end of the load period.(Use banker's rule)
Transcribed Image Text:3. On January 10, 20X2, a promissory note was signed with the principal of One hundred forty-five thousand forty-two and 34/100. This promissory is an interest-bearing note at 7% and shall be paid on September 15, 20X2. Find the final amount at the end of the load period.(Use banker's rule)
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