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6 January, 12:18

Keesha Co. borrows $165,000 cash on November 1, 2017, by signing a 180-day, 11% note with a face value of $165,000. On what date does this note mature? Assume a 365 day year.

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  1. 6 January, 12:21
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    Principal amount $165000

    Rate - 11%

    time - 180

    Interest = 165000*0.11=$18150

    Total Maturity = 165000*0.11*180/365 = 8950.68

    Interest Expense for year 2017 = 165000*0.11*61/365 = 3033

    Interest Expnese for year 2018 = 165000*0.11*119/365 = 5917

    Ans. April 28, 2018
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Home » Business » Keesha Co. borrows $165,000 cash on November 1, 2017, by signing a 180-day, 11% note with a face value of $165,000. On what date does this note mature? Assume a 365 day year.
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