Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent. Principal interest rate date borrowed date repaid exact time interest maturity value $1,500 12% May 15 January 16

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A: The question is related to amount at maturity amd date of maturity of four investments.

Q: прапу What formula should Hardy Company uses add-on interest? Gordon Company signed a note payable…

A: When a person or company borrows money, a formal agreement for repayment of money and stated rate of…

Q: te the following, using ordinary interest. (Use Days in a year table.) Note: Do not round…

A: Simple interest there is no interest on interest and there is no compounding of interest. In…

Q: Date Face Amount Rate Аpг. 10 $96,000 4% 60 days 1. 2. June 24 18,000 30 days 3. July 1 63,000 120…

A: Definition: Interest: The money charged by the lender for using the lender’s funds is referred to as…

Q: A partial payment is made on the date indicated. Use the United States rule to determine the balance…

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

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A: The maturity date is the date on which the final payment of the loan is due. At the time of…

Q: Given the annual interest rate and a line of an amortization schedule for that​ loan, complete the…

A: Annual interest rate = 5.4% Monthly interest rate = 5.4%/12 = 0.45% Closing balance = $ 4,464.20…

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

Q: Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for…

A: Promissory NoteA promissory note is a financial instrument wherein it involves two parties, One…

Q: Keesha Company borrows $115,000 cash on December 1 of the current year by signing a 150-day, 10%,…

A: A promissory note, also commonly known as a note, is a promise in writing to pay a sum of money at a…

Q: Following are the current note receivables of Monsoon, Inc. as of December 31, 2020. All notes have…

A: Journal: Recording of a business transactions in a chronological order.

Q: Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate…

A: Workings:

Q: Journalize the following, assuming a 360-day year is used for interest calculations: ​ Apr. 30…

A: Interest Expense = 150,000 x 6% x 30 / 360 = $750

Q: Use ordinary interest: Principal Rate of Interest Time Maturity Value Date Note Made Date Note…

A: Notes are debt instruments that function very similar to a bond, the only difference being the…

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

A: Contract datematurity monthMaturity dateInterest expense…

Q: Determine the due date and the amount of interest due at maturity on the following notes: Face…

A: For the calculation of Due date - The number of days are counted from the date of note.Interest =…

Q: Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of…

A: Amount of interest can be computed using following formula :

Q: Given the annual interest rate and a line of an amortization schedule for that loan, complete the…

A: Solution:- When a loan is taken, it can either be repaid as a lump sum payment or in installments.…

Q: Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of…

A: A note receivable is a written promise to pay a certain sum of money at a future date or on the…

Q: 30. Calculate the discount period for the bank to wait to receive its money: (Use Days in a year…

A: Discount Period = Maturity Date of note - Discount Date   Maturity Date of Note = Date of Note +…

Q: Maturity Value (in $) Rate Time Interest Principal Interest (%) (days) Method $3,100 % 167 Exact…

A: Interest expense: It is the interest which is incurred by the organization on the debt taken by it.…

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A:

Q: Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days.…

A: INTEREST = PTR / 100 INTEREST = $1,575 P = PRINCIPAL T = 0.5 YEARS OR 6 MONTHS R = 9%

Q: The following are data on three promissory notes. Determine the missing amounts. (Round answers to…

A: a. Interest = Principal x rate of interest x No. of days / 360 days =716400*5%*60/360 = $5,970 b.…

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

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Q: None

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Q: Maturity Value (in $) Rate Time Interest rincipal Interest (%) (days) Method $3,500 168 Exact $220…

A: Solution: Maturity value = principal + interest  = 3500 + 220  = $3,720

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A:

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A: Step 1:Noets payable are reported under the Liabilities section of the balance sheet. Notes…

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A: The business entities are required to pay the interest expense on the amount they borrow. The tax…

Q: Complete the following, using ordinary interest. (Use Days in a year table.) Note: Do not round…

A: Solution: Ordinary interest is the interest based on 360 days in a year instead of 365 days.…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.