Multiple Choice
The maturity value of a 60-day note for $6,000 that bears interest at 6 percent a year is
A) $6,060.
B) $6,600.
C) $6,000.
D) 5,940. 6,000 x 60/360 x .06 = 60; 6,000 + 60 = 6,060.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q19: If the amount due on a note
Q30: Find the due date of a 60-day
Q31: A 60-day note dated April 1 was
Q31: The Notes Receivable Discounted account<br>A) is shown
Q33: Since notes receivable are negotiable, internal control
Q35: The maturity value of a 120-day note
Q37: The maturity value of a 90-day note
Q38: The amount of interest that will accumulate
Q92: A(n)----------is a form of commercial time draft
Q93: The name given to the price charged