Illinois Bank lends Lisle Furniture Company $130,000on December 1. Lisle Furniture Company signs a $130,000,12%,4−month note. The total cash paid at maturity of the note is:(Round your final answer to the nearestdollar.?
|
Amount paid at maturity = principal + interest = 130,000 + (130,000*12%*4/12) = 130,000 + 5200 = 135,200 |
|
Illinois Bank lends Lisle Furniture Company $130,000on December 1. Lisle Furniture Company signs a $130,000,12%,4−month note....