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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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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 Kovpaev Alexey
by
3.9k points

1 Answer

1 vote

Answer:

50$

Step-by-step explanation:

5000 x 4% x 90/360 = 50$

User Izilotti
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4.9k points
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