A promissory note is a note issued against short- or long-term borrowing. The borrower, or maker, signs a note promising to pay the lender an agreed sum plus interest on a certain date, for value ...

Calculate interest for notes using a 360-day year for accuracy ... to know to calculate an interest rate with the present value formula. On Dec. 31, 2015, you would record $52.50 as a credit ...

The author and editors take ultimate responsibility for the content. Calculating interest expense on a payable bond should be relatively straightforward, but the accountants got involved.