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jenyasd209 [6]
3 years ago
12

On July 8, Action Co. issued a $70,000, 6%, 120-day note payable to Scanlon Co. Assuming a 360-day year, what information is nee

ded to calculate the maturity value of the note? a.The interest rate (6%) and the term (120 days) are needed to calculate the maturity value of the note. b.The face value of the note ($70,000) is needed to calculate the maturity value of the note. c.The face value ($70,000), interest rate (6%), and term (120 days) are needed to calculate the maturity value of the note. d.None of the information given is needed to calculate the maturity value of the note.
Business
1 answer:
nirvana33 [79]3 years ago
4 0

Answer:

c.The face value ($70,000), interest rate (6%), and term (120 days) are needed to calculate the maturity value of the note.

Explanation:

maturity value = face value + interest

interest = face value*interest rate*period

             = $70,000*6%*120/360

             = 1400

face value = 70,000

maturity value = 70,000 + 1400

                        = 71400

Therefore, face value and interest rates needed to calculate the maturity value of the rate.

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An individual in the US wants to buy office equipment from England which costs 2,000 pounds. If the exchange rate is 1pound=$1.9
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<u>Given:</u>

Cost of the office equipment in pounds = 2000

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<u>To find:</u>

The cost of the office equipment in dollars

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If 1 pound is 1.9 dollars, then 2000 pounds will be as follows,

\Rightarrow\text{1 pound}\rightarrow\text{1.9 dollars}\\\\ \Rightarrow\text{2000 pounds}\rightarrow1.9\times2000 \text{ dollars}=3800 \text{ dollars}\\\\ \therefore \text{The value will be 3800 dollars}

So, the correct option is Option c, that is $3800.

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3 years ago
Pratte Boat Wash's cost formula for its cleaning equipment and supplies is $2,600 per month plus $51 per boat. For the month of
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Answer:

The Correct answer is $85 U.

Explanation:

Spending change is the contrast among the real and expected (planned) measure of a cost  

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Mains Corporation owns equipment with a cost of $290,000 and accumulated depreciation at December 31, 2014 of $150,000. It is es
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Answer:

(a)$0

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