Answered: 10) The maturity value of a five-month…

10) The maturity value of a five-month promissory note issued May 31, 2013, is $2134.00. What is the present value of the note on the date of issue if money is worth 6.3%?

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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10) The maturity value of a five-month promissory note issued May 31, 2013, is $2134.00. What
is the present value of the note on the date of issue if money is worth 6.3%?

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