Dhafi Quiz

# If the interest rate on a note is 10.5% and the principal was \$60,000, what is the maturity value of the note, if the term of the note is 7 months? (Round your final answer to the nearest dollar.) ## If the interest rate on a note is 10.5% and the principal was \$60,000, what is the maturity value of the note, if the term of the note is 7 months? (Round your final answer to the nearest dollar.)

This is a List of Available Answers Options :

1. \$66,300
2. \$60,000
3. \$63,675
4. \$62,625

The best answer is C. \$63,675.

Reported from teachers around the world. The correct answer to ❝If the interest rate on a note is 10.5% and the principal was \$60,000, what is the maturity value of the note, if the term of the note is 7 months? (Round your final answer to the nearest dollar.)❞ question is C. \$63,675.
I Recommend you to read the next question and answer, Namely Jensen Corporation uses the percentage-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to \$2,005,000 and management estimates 3% will be uncollectible. The Allowance for Doubtful Accounts prior to adjustment has a debit balance of \$17,000. After all adjusting entries are made, the balance in Allowance for Uncollectible Accounts will be: with very accurate answers.