Answer the following questions. (Round interest rate to 0 decimal places, e.g. 7%.) (1) If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest Expense: $511 Notes Payable: $4,700

Q: What is the amount of total interest earned on a note receivable based on the following information:…

A: A note receivable is a written contract that promises to make a certain payment to a different party…

Q: Harris Company borrows money from the Whitestar Bank and signs an interest-bearing promissory note.…

A: Interest Rate = Interest * 100 * 360  / (Days * Principal)

Q: The interest on a $27000, 15%, 1-year note receivable is $31050. $228. $270. $4050.

A: The note receivable is an asset for the business.

Q: Assuming a 360-day year, the interest charged by the bank, at the rate of 6%, on a 90-day,…

A: Interest charged by the bank -Interest is still calculated as Principal x Interest x Frequency of…

Q: A loan of $21,224 was repaid at the end of 14 months. What size repayment check (principal and…

A: Interest is the amount charged for amount of of loan borrowed.Simple Interest= Amount borrowed *…

Q: A $2600 certificate of deposit held for 88 days was worth $2635.59. What simple interest rate was…

A: The present value and the future value of a certificate of deposit are known. The simple rate of…

Q: Assuming a 360-day year, when a $9,300, 90-day, 6% interest-bearing note payable matures, total…

A: Note payables means an instrument acknowledging the debt due from company to outsider after certain…

Q: Accounting for Current Liabilities A note payable is issued for a face value of $100,000. The…

A: Note payable refers to the written agreement made between two parties in which the cash is paid by…

Q: The interest charged on a $392000 note payable, at the rate of 6%, on a 60-day note would be (Use…

A: Notes payable are the liabilities for any business which will be payable at the time of due date or…

Q: Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: Compute the maturity value for each of the following notes: Required: 1. A note payable with a face…

A: The Note is a liability which needs to be paid out after a specific period of time. The time value…

Q: The balance on a credit card, that charges a 10.5% APR interest rate, over a 1 month period is given…

A: Interest rate = 10.5% Initial balance = $150  Number of days = 1-3 is 3 days Number of days = 4-20…

Q: What is the outstanding balance of the loan after the 2nd year

A: Compound interest is the amount of interest charged on interest. In this method the interest…

Q: calculate the accrued interest for the following notes (round to two decimal places, if necessary).…

A:

Q: Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate…

A: In the period which are less than 1 year than calculations are done based on simple ordinary…

Q: company issued a 60 day 11% note for $17,000. What is the principal amount of the note? Round your…

A: The calculations of principal amount is it important thing on the two understand and complete…

Q: $500 is deposited into an account at time 3 years and $750 is deposited into the same account at…

A: Amount Deposited   $    500.00 Time Period 3 Amount Deposited   $    750.00 Time Period 8…

Q: A 2300 note with interest is repaid after 90 days with a check for 2,374.75 What was the interest…

A: Interest Amount = P * R * TWhere P = PrincipalR = Rate of InterestT = Time Period…

Q: Suppose that you deposited $1,000 in a savings account at the beginning of a year where the annual…

A: Deposit = $1,000 Annual interest rate = 18% Compounding = monthly

Q: If $15,500 is deposited in an account earning interest compounded continuously at 4.00% for 12…

A: Continously compounded interest rate:Continuously compounded interest rate represents a method of…

Q: A 100-day note with a face amount of $54,000 and interest rate of 9% is issued on June 1. Required:…

A: 1.

Q: Compute interest and find the maturity date for the following notes. (Round intermediate…

A: Principal is the money that you originally agreed to pay other party at a maturity date. Interest is…

Q: Assuming a 360-day year, when a $17,100, 90-day, 8% interest-bearing note payable matures, total…

A: The note payable is issued to creditor as a promise to pay in future.

Q: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the rate was 4%…

A: The question is based on the concept of Financial Accounting. When the loan is taken then the…

Q: Assume you received note receivable of 5,000,000 carrying 12% nominal interest rate for a period of…

A: The premium on notes receivable is amortized by deducting a portion of the premium from the interest…

Q: The following certificate of deposit (CD) was released from a particular bank. Find the compound…

A: Deposit amount (P) = $3500 Interest rate (r) = 8% Number of compounding per year (m) = 365 Period…

Q: he interest on a $ 21000, 6%, 60-day note receivable is (Use 360 days for calculation.) $ 210. $…

A: Introduction:- A written promise from a  customer to pay a specific amount of money on a particular…

Q: A measure of profitability analysis is a. times interest earned. b. cash flow per share.…

A: Evaluation of profitability: In general, financial ratios are used to evaluate capabilities,…

Q: What is the finance charge, on the average daily balance, for this card over this 1 month period?

A: Finance Charge is the interest charged by credit card companies over an outstanding amount.  Average…

Q: Presented below are the data on three promissory notes. Determine the missing amounts (round answers…

A: Maturity Date  = Date of Note + Terms

Q: Compute the interest accrued on each of the following notes receivable held by Northland, Inc. on…

A: In this question first, we will calculate the days till 31 December and then interest for…

Q: Suppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today…

A: Present Value = pv = $1016Time = t = 13 - 4 = 9 YearsFuture Value = fv = $1741

Q: What nominal rate of interest, compounded quarterly

A: To calculate the nominal rate of interest compounded quarterly over the first ten years, we need to…

Q: Compute the maturity value as indicated for each of the following notes receivable. (Use 360 days…

A: maturity value is the Amount of money that is due and will be payable on the maturity of any…

Q: hat is the effective interest rate of a simple discount note for $27,500​,at an ordinary bank…

A: Effective Interest Rate -The rate used to compute the real return on investment and interest rate…

Q: Martinez Co. borrowed $69,589 on March 1 of the current year by signing a 60-day, 6%,…

A: Introduction: Journals: Each and every business transactions are to be recorded in journals. All the…

Q: The Central Bank pays 3.6% compounded monthly on certain types of deposits. What is the effective…

A: Given information: Interest rate is 3.6% Compounded monthly

Q: Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total…

A: The term note payable refers to the promissory agreement between two parties in which one party…

Q: Calculate the missing information for the loan. Round percents to the nearest tenth and days to the…

A: We need to use simple/ordinary/exact interest formula to solve this problem Simple interest(exact)…

Q: Determine the maturity date and compute interest for each note. Note: Use 360 days a year. Do not…

A: The date that the principal balance of a note, draft, acceptance bond, or other financial instrument…

Q: What is the total amount that must be repaid on the following note $8,543 borrowed at 14.5% simple…

A: Simple interest is interest without compounding.