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How much cash did Evergreen receive at the time of borrowing

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Reference no: EM132935770

Question - On May 31, 2020, Evergreen Corporation borrowed $5,000 cash on a 90-day note payable with a stated annual interest rate of 9%.

Required -

a. How much cash did Evergreen receive at the time of the borrowing?

b. How much interest would have to be accrued on the note on June 30?

c. What is the total amount of interest on the note which will have to be paid on its due date?

d. What is the maturity value of the note?

Reference no: EM132935770

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