Determine the maturity date and compute the interest for the following note payable with add- on interest: Date of Note Principal Interest Rate (%) Term Sep-15 1,200 8% 75 days
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- Provide best answerUse chart and round to nearest centGiven the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Paid on Interest Rate Payment Paid Principal Balance 11.6% $425.57 $64.23 $361.34 $6,280.78 Fill out the amortization schedule below. Annual Interest Paid on Payment Balance Interest Rate Paid Principal 11.6% $425.57 $64.23 $361.34 $6,280.78 (Round to the nearest cent as needed.)
- The maturity value of a $67200, 6%, 9-month note receivable isDetermine the maturity date and compute interest for each note. Days to be used per year 360 days Note 1 2 3 Required: Note Contract Date HN3 1-Mar 15-May 20-Oct Principal Contract Date $10,000 15,000 8,000 (Use cells A5 to F8 from the given information to complete this question.) Maturity Date Interest Expense Interest Rate 6% 8% 4% Period of Note (Term) 60 days 90 days 45 daysGiven the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Paid on Interest Paid Annual Interest Rate Payment $175.92 Balance Principal $159.58 6.9% $16.34 $2,681.75 Fill out the amortization schedule below. Annual Interest Rate Paid on Principal $159.58 Interest Payment Balance Paid 6.9% $175.92 $16.34 $2,681.75 (Round to the nearest cent as needed.)
- What is the amount of total interest earned on a note receivable based on the following information: Principal 25,000 Annual Interest Rate 4.00% Term (in days) 90Please help meDetermine the maturity date and compute interest for each note. Note: Use 360 days a year. Do not round intermediate calculations. Note 1. 2. 3. Contract Date March 8 May 22 October 27 Contract Date 1. March 8 2. May 22 3. October 27 Principal $ 17,000 22,000 15,000 Maturity Month Interest Rate 6% 8 4 Maturity Date Period of Note (Term) 60 days 90 days 45 days Interest Expense
- What is the maturity value of the note ?Use ordinary interest: Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Discount Period Proceeds $18,000 8% 120 days A June 9 September 6Use ordinary interest: (Round your "Proceeds" answer to the nearest cent.) Principal Rate of Interest Time Maturity Value Date Note Made Date Note Discounted Disount Period Proceeds $18,000 8% 120 days Jun 09 Sept 6 _____days Note to be discounted at 10%
