Ace signs a 120 day 9% note for $14,000 on September 1. How much interest would...

Question

Question

Ace signs a 120 day 9% note for $14,000 on September 1. How much interest would be due on November 30.

Answer 1

Answer #1

Interest due on November 30 = $14,000 × 9% × 90/360

Interest due on November 30 = $315

Answer 2

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