Determine the amount of each semi-annual interest payment for a $1,000 face value note payable with a 10% annual stated rate.
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- 1. Calculate the effective annual rate for a certificate of deposit that pays 4.1% APRcompounded monthly.A $12,000 non-interest-bearing promissory note is discounted at 6% compounded monthly, three years before maturity. What are the proceeds from the sale of the note?determines the amount to be deposited daily to pay the principal of $55408.83 at an annual compound interest rate of 1.46% for 9 years. Give type answer
- The total interest charged on a $400,000, 4-month notes payable, at the annual rate of 7%, would beWindsor, Inc. has a 30-day note that carries an annual interest rate of 9%. If the amount of the total interest on the note is equal to $1080, then what is the principal of the note?For each of the following ordinary annuities, calculate the interest and principal portion of the payment indicated. Principal Interest Payment Frequency Loan Term 1 $15,000.00 10% compounded quarterly quarterly 3 years 2 $85,000.00 6.75% compounded monthly monthly 7 years
- For each of the following ordinary annuities, calculate the interest and principal portion of the payment indicated. Principal Interest Payment Frequency Loan Term Payment Number to Find 1 $5,000.00 8% compounded quarterly monthly 3 years 16 2 $45,000.00 7.65% compounded monthly monthly 5 years 23On March 15, 2021, a six-month promissory note for $1,175 with interest at 4% was issued. Compute the present value of the note on May 22, 2021, if money is worth 8%.Assuming a 360-day year, when a $12,919, 90-day, 6% interest-bearing note payable matures, total payment will amount to:
- If you borrow $7,300 at $800 interest for one year, what is your effective interest rate for the following payment plans? Note: Input your answers as a percent rounded to 2 decimal places. a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % % %The interest charged on a $420000 note payable, at the rate of 6%, on a 60-day note would beA 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?