3. Determine the amount of interest to be recorded at year-end in the following circumstances:...
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3. Determine the amount of interest to be recorded at year-end in the following circumstances: A. An eight month note issued on October 15 for $300 million at 6%. Fiscal year end is March 31. B. A five month note issued on September 1 for $500 million at 8%. Calendar year end. C. A twelve month note issued on August 1 for $150 million at 11%. Fiscal year end is March 31
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3. Determine the amount of interest to be recorded at year-end in the following circumstances: A. An eight month note issued on October 15 for $300 million at 6%. Fiscal year end is March 31. B. A five month note issued on September 1 for $500 million at 8%. Calendar year end. C. A twelve month note issued on August 1 for $150 million at 11%. Fiscal year end is March 31 