Use the future value formula to compute the maturity value of the following promissory note. Ignore any grace period. A 5 month, 5.4% note for $3108.00 is issued july 20, 1993. What is the maturity value?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?On June 8, Alton Co. issued an $75,537, 7%, 120-day note payable to Seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. Select the correct answer. $5,288$75,537$80,825$77,300
- On June 8, Alton Co. issued an $73,184, 9%, 120-day note payable to Seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar.On June 8, Williams Company issued an $70,538, 11%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar. a. $70,538 b. $73,124 c. $7,759 d. $78,297On June 8, Williams Company issued an $85,200, 9%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? Round your answer to the nearest whole dollar. a.$85,200 b.$7,668 c.$87,756 d.$92,868
- On June 8, Williams Company issued an $74,068, 8%, 120-day note payable to Brown Industries. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. a.$79,993 b.$76,043 c.$74,068 d.$5,925on June 8th Alton Co issued an $70620 11% 120 Day note payable to seller Co. Assuming a 360 day year for your calculations what is the maturity value of the note? When required, round your answer to the nearest dollar.what is the effective interest rate on a 3-month noninterest-bearing note with a stated value of 13.7% and a maturity value of $220,000?
- A promissory note has a face value of 22275.00 and it has a date of issue of November 15 this year. The maturity date is April 15th. The rate of simple interest is 5.75%. What is the maturity value of the note?Use the ordinary interest method, 360 days, to solve the following word problems. Round to the nearest cent when necessary. Roni Lockard signed a $22,500 simple discount promissory note at the Pacific National Bank. The discount rate was 11%, and the note was made on February 17 (not in a leap-year) for 107 days. What proceeds will Roni receive on the note? What is the maturity date of the note?The maturity value of a $67200, 6%, 9-month note receivable is