To find interest payment

User Generated

bqryvn

Business Finance

Description

A company signed a $6,000, 90 days, 5% note payable on December 1. What amount of interest should be accrued on December 31? 

A. $300 

C. $725 

B. $25 

D. $3,825 

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Explanation & Answer

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$6000(1+0.05/3)^3 *1

$300.............answer

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