A company borrowed $10,000 by signing a 180-day promissory note at 9%.The total interest due on the maturity date is: (Use 360 days a year.)

A) $900
B) $75
C) $450
D) $300
E) $1,800

Question

A company borrowed $10,000 by signing a 180-day promissory note at 9%.The total interest due on the maturity date is: (Use 360 days a year.)A) $900B) $75C) $450D) $300E) $1,800

Florence Celestino · Accepted Answer

Final Answer : C, Explanation :  Interest = Principal x Rate x Time= $10,000 x 9% x 180/360= $450

A company borrowed $10,000 by signing a 180-day promissory note at 9%.The total interest due on the maturity date is: (Use 360 days a year.)

A) $900
B) $75
C) $450
D) $300
E) $1,800

Definitions

Learning Objectives

Learning Objectives

Related questions

A company borrowed $10,000 by signing a 180-day promissory note at 9%.The total interest due on the maturity date is: (Use 360 days a year.) A) $900B) $75C) $450D) $300E) $1,800

Definitions

Learning Objectives

Learning Objectives

Related questions

A company borrowed $10,000 by signing a 180-day promissory note at 9%.The total interest due on the maturity date is: (Use 360 days a year.)

A) $900
B) $75
C) $450
D) $300
E) $1,800