Using a 360-day year, the maturity value of a 90-day note for $42,000 at 8% annual interest is:
A) $45,360.00.
B) $3,360.00.
C) $42,840.00.
D) $42,000.00.
C) $42,840.00.
Explanation: note amount plus interest (principle × rate × time); ex: $45,360.00 + ($45,360.00 × 8% × 90/360) = $42,840.00.
You might also like to view...
Blogs are more common among ______ users than ______ users.
a. teenagers; adults b. adults; teenagers c. employees; students d. students; employees
The move from e-mail to more advanced communication technology made for more realistic interaction because while e-mail is asynchronous, instant messaging and video conferencing are experienced _______.
a. in real time b. virtually c. via CMC d. as a “real” society
Which of the following is a true statement?
a. Research is supportive of the contention that cash and funds flow data are informative above and beyond accrual data. b. Use of the direct method in the cash flow statement frequently results in non-articulation. c. Interest expense and long-term notes payable both appear in the financing section of the cash flow statement. d. With SFAS No. 95, the FASB chose to follow the entity model rather than the traditional income statement (proprietary) approach.
How do prescriptive models benefit from Big Data?
a. They are based on aggregated inputs, and their validity improves with high-volume data. b. They often require iterative approaches to find optimal solutions. c. Both a and b d. None of the above