Answer: The maturity value of the note is $5,66,533.
We can arrive at the answer with the steps below:
The formula we use to calculate Maturity Value is:
In this question,
Principal = $560,000
Interest = 7% per year
Time period = 60 days.
Number of days in a year = 360 days (given in the question).
Substituting the value of the time period calculated above in the Maturity Value formula we have:
Maturity Value = $560,000 × (1+(0.07×60/360))
Maturity Value = $560,000 × (1+(0.07×1/6))
Maturity Value = $560,000 × 1.011666667
Maturity Value = $566533.3333
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Internal controls shield your business from fraud, theft, and mistakes. Effective internal controls preserve your assets, cut down on loss, and maintain the accuracy of your financial reporting, among other traits.
Internal control is a procedure implemented by a company's management, board of directors, and other staff members and is intended to give reasonable assurance that the information is accurate, timely, and reliable. of adherence to relevant laws, rules, agreements, policies, and procedures.
Internal control is a procedure for ensuring that an organization's objectives in operational effectiveness and efficiency, accurate financial reporting, and compliance with laws, rules, and policies are met, according to the definitions of accounting and auditing.
Learn more about Internal control here
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It can help keeps premiums down.
The answer is 36 I put this so I can get the answer for myself I’m not sure what it really is
