On April 1, 2017, Banne Services received a 9-month note for $13,000 at 11%. Calculate the...
On April 1, 2017, Banne Services received a 9-month note for $13,000 at 11%. Calculate the amount of interest due at maturity. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
|
a |
$1,430 |
|
b |
$966 |
|
c |
$1,180 |
|
d |
$1,073 |
Homework Answers
Interest due at maturity = $13000*11%*9/12
= $1073
Option d. is correct answer.
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