All categories

3 years ago

A company receives a 10%, 90-day note for $2,700. The total interest due on the maturity date is: (Use 360 days a year.)

Business

1 answer:

Rom4ik [11]3 years ago

8 0

Answer:

Interest amount = $67.5

Explanation:

Use the below formula to find the interest amount:

Interest amount = The value of note x Interest rate x (90 / 360)

Given value of note = $2700

Interest rate = 10%

Time = 90/360

Now plug the value in the above formula and solve for the interest due:

Interest amount = The value of note x Interest rate x (90 / 360)

Interest amount = 2700 x 10% x (90 / 360)

Interest amount = $67.5

You might be interested in

In the demonstration, 360∘ of rotation (one full rotation) represents a sidereal day. You can actually measure the length of the

Gennadij [26K]

In the demonstration, 360∘ of rotation (one full rotation) represents a sidereal day. You can actually measure the length of the sidereal day by measuring the time from when the star vega or the star sirius crosses your meridian on one day (or night) until it crosses the meridian on the next day (or night). Mastering astronomy.

3 0

3 years ago

The value chain expresses the idea that different functions within the firm are interconnected and only by working together can

frosja888 [35]

Answer:

True.

Explanation:

The value chain expresses the idea that different departments within a firm should operate interdependently which will not only increase the efficiency of the firm but also create a value for customer to compete in the competitive environment. It is very important for the departments within an organization to operate in cooperation with one another as it would make the attainment of the goal easier and that too within stipulated time frame.

8 0

3 years ago

Advantages of supermarkets?

bazaltina [42]

Answer:

you can buy and get stuff in physical form.

Explanation:

8 0

3 years ago

Read 2 more answers

A(n) _____ system is a computer-based information system that produces standardized reports in summarized structured form to sup

liraira [26]

Answer:

The management information system(MIS)

6 0

2 years ago

Coffee and tea are substitutes in consumption. If there is an increase in the price of coffee, assuming a positively sloped supp

exis [7]

Answer:

Will increase

Explanation:

Substitutes are the goods which have high elastic demand or positive cross elasticity of demand. An increase in price substantially affects the demand for a substitute good. For example, if tea and coffee are substitutes, an increase in the price of coffee will increase the demand for tea and the overall surplus in the team market.

5 0

3 years ago