Acme,Inc.accepted a promissory note from NadirCo,who promised to pay Acme $5,000 plus 6% interest at the end of four months.When NadirCo pays the note,Acme will receive ________.

Question

Quizplus · Accepted Answer

The interest on the note is calculated as follows: $5,000 * 6% * (4/12) = $100. Therefore, when NadirCo pays the note, Acme will receive the principal amount of $5,000 plus $100 interest, totaling $5,100.

Acme,IncAccepted a Promissory Note from NadirCo,who Promised to Pay Acme