Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. packit corporation has an $80,000 note that carrie

Packit Corporation has an $80,000 note that carries an annual interest rate of 10%. If...

70.2K

Verified Solution

Question

Accounting

Packit Corporation has an $80,000 note that carries an annual interest rate of 10%. If the amount of the total interest due on the note is equal to $8,000, what is the duration of the note in months?
2 months
6 months
8 months
12 months
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Comment on the following statement regarding whether you agree with it and why. Accountants make fees from...

Finance
Q

Which statement about organisms in Phylum Chordata is FALSE? All chordate embryos:have a nerve cord.possess...

Biology
Q

Which of the following occurs when two species evolves from one population by sympatricspeciation?O Members...

Biology
Q

Evaluate and round to the forth number after the decimal point.sin 74?cos 48?tan 38?

Basic Math
Q

A bacteria population starts at 100 on oll bs3 1 Explain why the expressions 1000...

Algebra
Q

Acrobat Inc. has the following account balances at December 31 of the current...

Accounting
Q

Navigate to and review the full text of GASBS 9, located in the topic 6...

Accounting
Q

Critically analyse two of the following transfer pricing methods in both quantitative and qualitative aspects:...

Accounting
Q

Which of the following types of risk affect bonds? I. call risk II. business risk...

Accounting
Q

Future Value Factor for a Single Present Amount (Interest rate = r, Number of periods...

Accounting
Q

PLEASE HELP Decker Industries reported the following monthly data: What is the...

Accounting
Q

Question 3 The following transactions occurred for Mouawad Inc: Inventory costing $300,000...

Accounting