The face value of an eight-month, 4.5% note dated February 28, 2006, is $738.85. Determine each of the items listed below. Ignore any grace period. (c) the amount of interest (a) the legal due date (b) the interest period (in days) (d) the maturity value (a) The legal due date is (b) The interest period is days. (Type a whole number.) (c) The amount of interest is payable is $[ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The maturity value of the note is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

The face value of an eight-month, 4.5% note dated February 28, 2006, is $738.85. Determine each of the items listed below. Ignore any grace period. (c) the amount of interest (a) the legal due date (b) the interest period (in days) (d) the maturity value (a) The legal due date is (b) The interest period is days. (Type a whole number.) (c) The amount of interest is payable is $[ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The maturity value of the note is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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