The Amount of Cash Paid at Maturity Date on a $9,000

question 88

Short Answer

The amount of cash paid at maturity date on a $9,000 face value, 60-day note bearing interest at 8% is _____________________.
9000 x 60/360 x .08 = 120; 9000 + 120 = 9,120.

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Definitions:

Price of Hay

The cost at which hay is sold or bought, often influenced by factors such as quality, availability, and demand.

Club Membership

Club membership describes an individual's subscription or affiliation with a private group that offers access to exclusive resources or activities.

Price of Y

The market value or cost assigned to good Y, influenced by factors like supply, demand, and market conditions.

Discount

A reduction from the full price or standard cost of a good or service, often used to stimulate sales or clear inventory.