A company receives a 6%, 120-day note for $2,400. The total interest due on the maturity date is (Use 360 days a year.) ?
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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?
- 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?A company issues a $10,000 two-year, 4% note payable, repayable in 8 quarterly installments with fixed principal payments. How much is the first installment payment?Assuming a 360-day year, when a $12,919, 90-day, 6% interest-bearing note payable matures, total payment will amount to:
- ou were paying your fully amortising loan at 8.2% per annum for 12 years. The current monthly payment is $1,492 per month. What is the remaining loan balance at the end of year 2? Please rounded your answer to two decimal points (e.g. 8000.158 is rounded to 8000.16)What annual interest rate is earned by a 17-week T-bill with a maturity value of $1,700 that sells for $1,680.88? ... The annual interest rate is %. (Type an integer or decimal rounded to three decimal places as needed.)Assuming a 360-day year, when a $16,098, 90-day, 8% interest-bearing note payable matures, total payment will be
- The interest charged on a $234000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.)A company has a $500,000 30 year fixed loan payable at an interest rate of 4% monthly loan payments are set at $2,387.08. for the first month’s payment, the interest portion of the payment is $1,666.67. the entry to record the first months loan payment ( assuming no previous accrual) would include a debit to cash in the amount of $1666.67 loan payable in the amount of $2,387.08 interest expense for $1666.67 cash in the amount of $ 2,382.08Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464