Thursday
October 2, 2014

Homework Help: business math

Posted by kadija on Saturday, August 18, 2012 at 5:33pm.

Word Problem 11-17

Hafers, an electrical supply company, sold $3,100 of equipment to Jim Coates Wiring, Inc. Coates signed a promissory note May 12 with 5.50% interest. The due date was August 22. Short of funds, Hafers contacted Charter One Bank on July 13; the bank agreed to take over the note at a 6.70% discount. (Use Days in a year table.)


What proceeds will Hafers receive? (Use 360 days a year.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Math - Hafers, an electrical supply company, sold $3,800 of equipment to Jim ...
Business Math - Hafers, an electrical supply co., sold $4200.00 of equipment to ...
Promissory notes - Hafers, an electrical supply company, sold 4800.00 of ...
Business Math - Hafers, an electrical supply company, sold $4,800, 12%, 90-day ...
Business Math - Hafers, an electrical supply company, sold $4,800, 12%, 90-day ...
Accounting - Journalize the following transactions for Tammy Company: Sept. 1 ...
accounting-installment sales journal entry - Question: On 12/31/07, Company A ...
math - Home health signed a 90,000 note at 11 1/2% simple interest for 180 days ...
accounting - need help with this problem. On July 1, 2008, The Reno Rattlers ...
Accounting - The Suns bought a reconditioned DC 3. They paid 1 million in cash ...

Search
Members