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Morgan Co. signs a $50,000 noninterest-bearing 5-year note payable for goods purchased from Xelco Industries. The appropriate rate of interest for this type of note is 10%. At the time the note is signed,
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Morgan Co. signs a $50,000 noninterest-bearing 5-year note payable for goods purchased from Xelco Industries. The appropriate rate of interest for this type of note is 10%. At the time the note is signed, what is the present value of the note on Morgan's records

User Bioinfornatics
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1 Answer

1 vote

Answer:

$31,046

Step-by-step explanation:

You take the $50,000 and divide it by 1.10^5 = $31,046

User Tristanisginger
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