A non interest bearing promissory note for $1484 00 was discounted at 3% pa compounded monthly If the proceeds of the note were $1365.00, how long before the due date was the note discounted? State your answer in years and months (from 0 to 11 months) The note was discounted year(s) and month(s) before the due date
A non interest bearing promissory note for $1484 00 was discounted at 3% pa compounded monthly If the proceeds of the note were $1365.00, how long before the due date was the note discounted? State your answer in years and months (from 0 to 11 months) The note was discounted year(s) and month(s) before the due date
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 16Q: Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual...
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