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Question
How are promissory notes calculated?
How are promissory notes calculated?
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Solution
The calculation of promissory note on single payment of simple interest is:
S=P(1+rt)
Where:
S= maturity value.
P= face value specified in the promissory note.
r= rate of interest.
t= time period.
Also read:
The calculation of promissory note on single payment of simple interest is:
S=P(1+rt)
Where:
S= maturity value.
P= face value specified in the promissory note.
r= rate of interest.
t= time period.
Also read:
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