Presented below are data on three promissory notes.Determine the missing amounts. (Round answers for Total Interest to O decimal places, e.g. 825. Round annual interest rate to 0 decimalplaces, e.g. 15%. Use 360 days for calculation.)(a)(b)(c)DateofNoteApril1July 2March7Terms60days30days6monthsMaturity DatePrincipal$780,00080,400165,000Annual Interest Rate15 %%16 %$$Total Interest$938

The borrower can obtain money through a promissory note that they might not have readily available.…

Presented below are data on three promissory notes. Determine the missing amounts. (Round answers for Total Interest to O decimal places, eg. 825. Round annual interest rate to O decimal places, eg. 15%. Use 360 days for calculation.) (a) (b) (c) Date of Note April 1 July 2 March 7 Terms 60 days 30 days 6 months Maturity Date Principal $780,000 80,400 165,000 Annual Interest Rate 15 % $ % 16 % $ Total Interest $938

Presented below are data on three promissory notes. Determine the missing amounts. (Round answers for Total Interest to O decimal places, eg. 825. Round annual interest rate to O decimal places, eg. 15%. Use 360 days for calculation.) (a) (b) (c) Date of Note April 1 July 2 March 7 Terms 60 days 30 days 6 months Maturity Date Principal $780,000 80,400 165,000 Annual Interest Rate 15 % $ % 16 % $ Total Interest $938

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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