Valley Co. received a $200,000, 90-day, 7% note, dated February 3, from Mr. Potts in payment of his account receivable. (Assume a 360-day year when calculating interest.)


a.  Determine the due date of the note.


February 3May 4May 11April 30

b.  Determine the interest.

c.  Determine the maturity value of the note.

Answer rating: 100% (QA)

a To determine the due date of the note we add 90 days to th... View the full answer