A company borrowed 10,000 by signing a 180-day promissory note at 9%. The maturity value of the note is what?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383A company borrowed $10,000 by signing a 180-day promissory note at 11%. The maturity value of the note is: (Use 360 days a year.)A company borrows $100,000 with interest at j₁2 = 9%. The loan is to be amortized by monthly payments of $1550 for as long as necessary. A final smaller payment will be calculated so the loan will be exactly repaid. The outstanding balance immediately after the th th 88 payment is $796.44. What is the value of the 89" and final payment? O A. $790.51 B. $796.44 C. $802.41 D. $808.43
- Suppose that a company borrows 20,000 for 1 year at a stated rate of interest of 9 percent. What is the annual percentage rate (APR) if interest is paid to the lender in annually? semiannually? quarterly?Suppose a company borrowed $1 million at a rate of 9% simple interest, with interestpaid at the end of each month. The bank uses a 360-day year. How much interestwould the firm have to pay in a 30-day month? What would the interest be if thebank used a 365-day year? [(0.09/360) (30) ($1,000,000) 5 $7,500 interest for themonth. For the 365-day year, (0.09/365)(30)($1,000,000) 5 $7,397.26 of interest.The use of a 360-day year raises the interest cost by $102.74, which is whybanks like to use it on loans.]$11,000 is borrowed for 150 days at an 8% interest rate. Calculate the maturity value by the exact method and by the ordinary method. (Round your answers to two decimal places.) exact method ordinary method s x Enter a number areater maturity value?
- If you borrowed P10,000 from a bank with 18% interest per annum, what is the total amount to be paid at the end of one year?What is the maturitySuppose a certain manufacturer deposits $3,000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will be in the account at the end of the 8 year period? $ (b) What is the total amount (in $) of interest earned in this account? $
- An account pays interest at 1.5% per month. If you deposit $5000 at the beginning of this year, how much could you withdraw at the end of next year? (a) $5151 (b) $7148 (c) $49,249 (d) $265,545What will be the total interest earned on a 6%, $2,000 note receivable that is due in nine months?A loan company advertises that $100 borrowed for one year may be repaid by 12 monthly installments of $9.46. Assuming the difference between the amount repaid and the amount borrowed is interest only, what is the effective annual interest rate being charged?
