Question

Palmer Transit Company invested $ 70,000 in a tax- anticipation note on June 30, 2012. The note earns 12 percent interest compounded monthly (1 percent per month) and matures on March 31, 2013.
Required:
Round answers to two decimal places.
1. Prepare the cash flow diagram for this investment.
2. Determine the amount Palmer will receive when the note matures.
3. Determine how much interest Palmer will earn on this investment from June 30, 2012, through December 31, 2012.


$1.99
Sales0
Views28
Comments0
  • CreatedSeptember 22, 2015
  • Files Included
Post your question
5000