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Naddik [55]
3 years ago
12

Assuming a 360-day year, when a $49,200, 90-day, 6% interest-bearing note payable matures, the total payment will be ______ .

Business
1 answer:
kow [346]3 years ago
5 0

Answer:

b. $49,938

Explanation:

The computation of the total payment is shown below:

Total payment is

= Principal + interest amount

where,

The Principal is $49,200

And, the interest is

= $49200 × 6% × 90 days ÷ 360 days  

= $738

Now

Total payment is

= $49,200 + $738

=  $49,938

hence, the correct option is b. $49,938

The same is to be considered

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