Kelly borrowed $3,000 with an interest rate of 7.2%. The time is based on 90 days in a 360-day year and the loan was taken out on August 19. The note has been discounted 14% on October 10. What are the proceeds?
$3,008.87;
You might also like to view...
As a branding manager, you have recommended to your board of directors a corporate policy of
umbrella branding. What are the advantages that your company might gain from this? What will be an ideal response?
Usually, a company must make estimates in the preparation of financial statements as of a given date
Indicate whether the statement is true or false
Chairman Cat Products produces cat trees that are sold by several large pet stores. They sold 190, 210, and 208 cat trees in January, February, and March, respectively. Assuming that the first forecast value (for January) is set to 190, what is the exponential smoothing forecast for March? Assume a smoothing constant value of 0.4.
a. 190 b. 198 c. 202 d. Cannot be determined from the information given
A conditional promise to pay is not a negotiable instrument.
Answer the following statement true (T) or false (F)