Illinois Bank lends Lisle Furniture Company $90,000 on December 1.Lisle Furniture Company signs a $90,000,10%,4-month note.The total cash paid at maturity of the note is: (Round your final answer to the nearest dollar. )

Name: Illinois Bank lends Lisle Furniture Company $90,000 on December 1.Lisle Furniture Company signs a $90,000,10%,4-month note.The total cash paid at maturity of the note is: (Round your final answer to the nearest dollar. )
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Question

Quizplus · Accepted Answer

$90,000 + ($90,000 × 10% × 4/12)= $93,000

Illinois Bank Lends Lisle Furniture Company $90,000 on December 1