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Q: How much interest will accrue on a $20,000 face value, 60-day note that bears interest at 9 percent a year?
A: $300 Interest for the whole year is $1800 (20,000 x 9%) so interest per month is $150 (1800/12). 60 days note, you earn 2 months interest ($150 x 2) $300
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Original conversation
User: How much interest will accrue on a $20,000 face value, 60-day note that bears interest at 9 percent a year?

Weegy: $300 Interest for the whole year is $1800 (20,000 x 9%) so interest per month is $150 (1800/12). 60 days note, you earn 2 months interest ($150 x 2) $300
Butterflybaby|Points 527|

User: On March 1, a firm purchased equipment for $5,000, signing a 30-day note bearing interest at 12 percent a year. The entry to record the payment of the amount due on March 31 will include a debit to Notes Payable for

User: On March 1, a firm purchased equipment for $5,000, signing a 30-day note bearing interest at 12 percent a year. The entry to record the payment of the amount due on March 31 will include a debit to Notes Payable for what?





Weegy: Sorry this question is really tough, You need some expert to answer your question.
Expert answered|conception|Points 10|

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Asked 8/4/2012 12:30:32 PM
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