Ask Question
24 April, 17:51

Sylvestor Systems borrows $107,000 cash on May 15 by signing a 60-day, 6%, $107,000 note.

On what date does this note mature?

+4
Answers (1)
  1. 24 April, 18:03
    0
    14th July

    Explanation:

    The computation of the maturing date of the note is calculated below:

    The Sylvestor Systems borrows the amount of $107,000 on May 15 at a 6% interest rate and the mature days of the note are 60 days

    So, the maturity date would be

    = 16 days in May month + 30 days in June month 14 days in July month

    Therefore, the note is matured on 14th July

    We simply calculated the 60 days from May to July months
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Sylvestor Systems borrows $107,000 cash on May 15 by signing a 60-day, 6%, $107,000 note. On what date does this note mature? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers