Genuine Parts received a promissory note from a customer on March 1, 2016 . The face amount of the note is $8,000; the terms are 90 days and 9% interest. What is the total amount of interest that Genuine Parts will receive when the note is paid?
a. $ 60
b. $ 90
c. $180
d. $720
c
You might also like to view...
Cluster sampling is often less convenient and more costly than other random sampling methods.
Answer the following statement true (T) or false (F)
The report of income and dividends is the same as a balance sheet for a bank
Indicate whether the statement is true or false
A shipment contract requires a seller to ship goods by a carrier.?
Indicate whether the statement is true or false
Mel was the beneficiary of a $45,000 group term life insurance policy on his deceased wife. His wife’s employer had paid all of the premiums on the policy. Mel used the life insurance proceeds to purchase a U.S. government bond, which paid him $2,500 interest during the current year. Mel’s Federal gross income from this is $2,500.
Answer the following statement true (T) or false (F)