A company signed a 9% 3-month promissory note on September 1 and borrowed 20,000 TL from the
Fantastic news! We've Found the answer you've been seeking!
Question:
A company signed a 9% 3-month promissory note on September 1 and borrowed 20,000 TL from the bank. The principal and interest will be paid to the bank on 1 December.
How much will the 30 September interest rate be? (Apply simple interest for the loan)
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
Posted Date: