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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  (Final Exam)

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.

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