Assuming a 360-Day Year, When a $20,000, 90-Day, 5% Interest-Bearing

question 150

Multiple Choice

Assuming a 360-day year, when a $20,000, 90-day, 5% interest-bearing note payable matures, total payment will be

• A) $21,000
• B) $1,000
• C) $20,250
• D) $250

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