Multiple Choice
As a result of a loan from National Bank, Miama Company signed a 45-days note for $8,000 that the bank discounted at 8 percent. Assuming a 360-day year, the proceeds received by Miama Company equals _____.
A) $8,000
B) $8,080
C) $7,920
D) $7,360
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q13: Health Acer Company granted an extension on
Q14: Which of the following should be paid
Q15: Kate gives a 79-day, 10 percent note,
Q16: Which of the following formulas calculates the
Q17: The _ is a charge made for
Q19: The duration of a promissory note is:<br>A)
Q20: Summerz Company granted an extension on an
Q21: The notes receivable sold to a bank
Q22: A notes receivable is classified as a
Q23: A company accepts a 60-day, 10 percent,