Question: A company issues a 140minusday, 11% note for $15,000. What is the principal amount of the note? (Round your answer to the nearest dollar.) A.$15,642

A company issues a 140minusday, 11% note for $15,000.

What is the principal amount of the note? (Round your answer to the nearest dollar.)

A.$15,642

B. $14,358

C.$15,000

D.$ 16, 650

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!