If the amount of the total interest on the note is equal to


Question - Novak Corp. has a 30-day note that carries an annual interest rate of 10%. If the amount of the total interest on the note is equal to $420, then what is the principal of the note?

$36600

$600

$4200

$16800

Solution Preview :

Prepared by a verified Expert
Accounting Basics: If the amount of the total interest on the note is equal to
Reference No:- TGS02407119

Now Priced at $20 (50% Discount)

Recommended (97%)

Rated (4.9/5)