A note worth $4,000,000 bears interest at 2% per month and has a maturity of 60 days.
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Question:
A note worth $4,000,000 bears interest at 2% per month and has a maturity of 60 days. If it is canceled after 45 days of expiration.
Calculate the default interest and the total amount to be paid?
How many months must elapse for $812,000 placed at 2.2% bimonthly to become $910,252?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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