Answer: Option (c) is correct.
Explanation:
Given that,
Plumbing components costs = $7,800
Studios signed = 60 day
10% promissory note = $7,800
If the note is dishonored, interest amount due :
Interest = [tex]7800 \times \frac{10}{100} \times \frac{60}{360}[/tex]
Interest = $130
Total amount due = $7800 + $130
= $7930
∴ The amount due on the note is $7930.
