If the interest is $5,000 on a 6%, 60 day note, what is the principal?
Question:
If the interest is $5,000 on a 6%, 60 day note, what is the principal?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Given information Interest 5000 Rate 0...View the full answer
Answered By
Loise Ndungu
I have five years of experience as a writer. As I embark on writing your papers from the prologue to the epilogue, my enthusiasm is driven by the importance of producing a quality product. I put premium product delivery as my top priority, as this is what my clients are seeking and what makes me different from other writers. My goal is to craft a masterpiece each time I embark on a freelance work task! I'm a freelance writer who provides his customers with outstanding and remarkable custom writings on various subjects. Let's work together for perfect grades.
4.90+
78+ Reviews
224+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-1259103285
5th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
Question Posted:
Students also viewed these Accounting questions
-
A business issued a 90-day, 15% note for $91,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including...
-
A seven-year, $10 000 promissory note bearing interest at 8% compounded quarterly is discounted four years after the date of issue at 7% compounded semi-annually. What are the proceeds of the note?
-
If interest rates fall from 6 percent to 5 percent, the price of the bond in the above problem will increase. Will the change in price (regardless of sign) be smaller or larger than in the above...
-
The following Excel output summarizes the results of an analysis of variance experiment in which the treatments were three different hybrid cars and the variable measured was the miles per gallon...
-
Look again at Table 28.11. Calculate a common-size balance sheet and income statement for Estée Lauder. Table 28.11 End of Year Start of Year Balance Sheet 2 Assets Current assets: Cash and...
-
In Exercises use the error formulas in Theorem 4.20 to estimate the errors in approximating the integral, with n = 4, using (a) The Trapezoidal Rule (b) Simpson's Rule. Data from in Theorem 4.20...
-
The first stage of an impulse turbine is compounded for velocity and has two rows of moving blades and one ring of fixed blades. The nozzle angle is \(15^{\circ}\) and leaving angles of blades are...
-
1. In what ways is Ingvar Kamprad a manager? In what ways is he a leader? 2. Describe the nature of followership that Kamprad seems to have encouraged at IKEA. 3. Using the Leadership Grid and its...
-
Use the graph of h (a) below to evaluate lim h (a), if possible. x 4 5 St 3 2 1 -3 -2 0 2 3 Maple plot If the limit does not exist, enter DNE. lim h(x)= x-4 -1 PW
-
The following table presents the demand and supply schedules for apartments in a small U.S. city: a. If the monthly rental rate is $600, excess ___________of___________ apartments per month will...
-
Suppose you are offered the following investment choices: You can invest $500 today and receive $600 in 5 years. The investment is considered low risk. You can invest the $500 in a bank account...
-
Greg has negotiated a $20,000 price on a new pick-up truck. The manufacturer is offering a $1,500 rebate or 3.9 percent, three-year financing. Greg is also able to get 7 percent, three-year financing...
-
In Problems 1122, match each graph to one of the following functions: A. y = x + 2 B. y = C. y = x + 2 x + 2 D. y = x + 2 E. y = (x - 2) F y = (x + 2) G. y = |x - 21 H. y = x + 21 1. y = 2x J. y =...
-
1) All resistors in the circuit shown have a resistance of 2.0 2. What is the equivalent resistance seen by the voltage source (in (2)? a. 0.80 b. 2.0 C. 3.0 d. 3.3 e. 5.0 2+2=4 4//2=4/3 2+1.3=3.3 B...
-
Duke Blue Devil Inc. just paid a dividend of $ 2 . 0 0 . Its stock is now selling for $ 4 8 per share. The firm is 5 0 % as risky as the market. The expected return on the market is 1 4 % , and the...
-
A flying squid ( family Ommastrephidae ) is able to "jump" off the surface of the sea by taking water into its body cavity and then ejecting the water vertically downward. A 0 . 7 6 - kg squid is...
-
The firm's bank has recently offered to lend the firm up to 80% of the average level of receivables. The bank would charge 9% per annum interest plus a 1% monthly processing charge per dollar of...
-
(a) (b) Use an appropriate diagram to briefly describe the general design approach to place pole locations of a closed-loop system in state-space notation. [5] A system can be represented in...
-
Mr. Jones and Ms. Meyers were employed by Lester & Meyer, PLLC, the only law firm in a small town in Oregon. After working on an employment class-action suit under FLSA for several years, Mr. Jones...
-
The tractor is used to lift the 150-kg load B with the 24-mlong rope, boom, and pulley system. If the tractor travels to the right at a constant speed of 4 m/s, determine the tension in the rope when...
-
Classify each number in Problems 1116 as rational or irrational. If it is rational, write it without a square root symbol. If it is irrational, approximate it with a rational number correct to the...
-
Ethical conduct Required Name and provide a brief explanation of the six articles of the AICPA Code of Professional Conduct.
-
Leach Company invested $80,000 in a certificate of deposit on June 1, 2013. The certificate had a 6 percent annual rate of interest and a one-year term to maturity. Required a. What amount of...
-
The following events apply to The Taco Factory for the 2013 fiscal year: 1. Started the company when it acquired $21,000 cash from the issue of common stock. 2. Purchased a new cooktop that cost...
-
Assume you have a portfolio consisting of a $400,000 investment in stock A and a $600,000 investment in stock B. Suppose that the daily volatilities of these two assets are 2% and 1.5%, respectively,...
-
What is the role of education in promoting social mobility and reducing inequality, and how can educational systems be reformed to better serve diverse populations while preparing individuals for the...
-
A European call option and put option on a non-dividend paying stock both have a strike price of $51 and an expiration date in 6 months. The put sells for $2.50 and the call sells for $2. The...
Study smarter with the SolutionInn App