Match the term with its definition by placing the corresponding letter in the space provided: a. Interest

Question:

Match the term with its definition by placing the corresponding letter in the space provided:
a. Interest
b. Note term
c. Interest rate
d. Maker of the note
e. Maturity date
f. Maturity value
g. Payee of the note
h. Principal
i. Promissory note
_______1 . A written promise to pay a specified amount of money at a particular future date
_______2. The date when final payment of the note is due; also called the due date
_______3. The percentage rate of interest specified by the note for one year
_______4. The entity to whom the maker promises future payment
_______5. The period of time during which interest is earned
_______6. The amount loaned out by the payee and borrowed by the maker of the note
_______7. The sum of the principal plus interest due at maturity
_______8.
The entity that signs the note and promises to pay the required amount
_______9. The revenue to the payee for loaning money; the expense to the debtor

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

Question Posted: