Answered: What is the amount of total interest…

What is the amount of total interest earned on a note receivable based on the following information: Principal 25,000 Annual Interest Rate 4.00% Term (in days) 90

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 2SEA

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What is the amount of total interest earned on a note receivable based on the following information:

Principal	25,000
Annual Interest Rate	4.00%
Term (in days)	90

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