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On June 30, Nance Company receives a $5,000, 90-day, 4% note from a customer as payment on her account. How much interest will be due on the note's maturity date
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32 votes
32 votes
On June 30, Nance Company receives a $5,000, 90-day, 4% note from a customer as payment on her account. How much interest will be due on the note's maturity date

User Zolbayar
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1 Answer

16 votes
16 votes

Answer:

50$

Step-by-step explanation:

5000 x 4% x 90/360 = 50$

User Fiddlest
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