On June 1, 2013, Dirty Harry Co borrowed cash by issuing a 6 month noninterest bearing note with a maturity value of $480,000 and a discount rate of 7 Assuming straight line amortization of the discount, what is the carrying value of the note as of September 30, 2013 (Round all calculations to the ...

Face Amount 480000 Discount 480000 7 ...

On June 1, 2013, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a

Question:

On June 1, 2013, Dirty Harry Co. borrowed cash by issuing a 6-month noninterest-bearing note with a value of $480,000 and a of 7%.
Assuming straight-line amortization of the discount, what is the carrying value of the note as of September 30, 2013? (Round all calculations to the nearest whole dollar amount.)
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal... 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...