Reference no: EM131136882
- $58,940 at 6 percent for 60 days.
Interest Computations
Se6. Determine the interest on the following notes. (Round to the nearest cent.)
a. $58,940 at 6 percent for 60 days.
b. $14,280 at 9 percent for 30 days.
c. $30,600 at 12 percent for 60 days.
d. $21,070 at 10 percent for 90 days.
e. $46,360 at 15 percent for 120 days.
Notes Receivable Calculations
Se7. Determine the maturity date, interest at maturity, and maturity value for a 120-day, 8 percent, $34,000 note from Archer Corporation dated July 7. (Round to the nearest cent.)
Notes Receivable Calculations
Se8. On August 25, Intercontinental Company received a 90-day, 9 percent note in settlement of an account receivable in the amount of $20,000. Determine the maturity date, amount of interest on the note, and maturity value. (Round to the nearest cent.)
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