answer in text with all working explanation steps correctly for each part and step Compute interest and find the maturity date for the following notes. (Round answers to O decimal places, e.g. 825. Use 360 days for calculationDate of NotePrincipalInterest Rate (%)Terms(a)June 10$82,8007%60 days(b)July 14$50,3008%90 days(c)April 27$13,1209%75 daysInterestMaturity Date(a)$August 9(b$October 12(c)$July 11

Answers: Answer (a) To compute the interest, we can use the formula: Interest = Principal * Interest…

Answered: Compute interest and find the maturity…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute interest and find the maturity date for the following notes. (Round answers to O decimal places, eg 825. Use 360 days for calculation) Date of Note Principal Interest Rate (%) Terms (a) June 10 $87,900 8% 60 days (b) July 14 $55,600 9% 90 days (c) April 27 $12,240 10% 75 days Interest Maturity Date (a) $ (b) $ (c) %24 %24
Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Interest ETE Note Principal Rate (%) Terms (a) (b) June 10 $81,610 7% 60 days July 14 April 27 90 days 75 days $45,500 8% (c) $13,100 9% Interest Maturity Date (a) (b) (c)
Compute the maturity date and interest for the following notes.( use 360 days for calculation) Dates of notes Terms Principal Interest Rate a. April 17 45 days 48,000 3% b. August 11 2 months 72,000. 7% Maturity date. Interest a. ? $? b. ? $?
Compute interest and find the maturity date for the following notes. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275. Use 360 days for calculation.) (a) (b) (c) Date of Note June 10 July 14 April 27 Principal $90,000 $64,800 $43,200 Interest Rate (%) 6% 7% 8% Terms 60 days 90 days 75 days $ $ LA Interest IN Maturity Date 4
Presented below are data on three promissory notes.Determine the missing amounts. (Round answers for Total Interest to 0 decimal places, e.g. 825. Round annual interest rate to 0 decimal places, e.g. 15%.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest (a) April 1 60 days $605,200 11 % $enter total interest in dollars for promissory note A rounded to 0 decimal places (b) July 2 30 days 94,530 enter an annual interest rate for promissory note B rounded to 0 decimal places % $630 (c) March 7 6 months 112,550 11 % $enter total interest in dollars for promissory note C rounded to 0 decimal places
Presented below are the data on three promissory notes. Determine the missing amounts (round answers to 0 decimal places, e.g. 125 Assume length of year = 360 days.)Date ofNote Terms Maturity Principal Annual Interest Total Interest Date RateApril 1 60 days ? $605,200 11% ? July 2 30 days ? 94,530 ? $630March 7 6 months ? 112,550 11% ?
Compute the maturity date and the maturity value associated with each of the following notes receivables. (Use 360 days for calculation. Round intermediate calculations to 2 decimal places, e.g 52.75 and final answers to O decimal places, e.g. 1,525.) 1. 2. 3. 1. 2. 3. A $15,000, 6%, 3-month note dated April 20. A $25,000, 8%, 72-day note dated June 10. An $8,000, 9%, 30-day note dated September 20. Maturity date > tA 69 Maturity value
Complete the following, using exact interest. (Use Days in a year table.) (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 $ 670 8% June 8 Dec. 11
Compute the maturity date and interest for the following notes. (Use 360 days for calculation.) (a) April 17 (b) August 11 (a) Dates of Notes (b) Maturity date Terms 45 days 2 months $ $ Principal Interest Rate $60,800 90,000 Interest 3% 7%
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