If cash is borrowed on a $50,000, 6-month, 12% note on September 1, how much interest expense would be incurred by December 31?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383What is the number of months required for a deposit of $1320 to earn $16.50 interest at 3.75%?What is the future value on December 31, Year 5, of a deposit of $10,000 made on January 1, Year 2, assuming interest of 16% compounded quarterly?
- What will be the total interest earned on a 6%, $2,000 note receivable that is due in nine months?Assuming a 360-day year, when a $11,200, 90-day, 5% interest-bearing note payable matures, the total payment will be Oa. $560 Ob. $140 Oc. $11,760 Od. $11,340 0 0 0 0Suppose on January 1st you deposit $100 in an account that pays a nominal interest rate of 11.33463% with interest added (compounded) daily. How much will you have in your account on October 1st or 9 months later?
- Assuming a 360-day year, when a $12,919, 90-day, 6% interest-bearing note payable matures, total payment will amount to:Accounting for Current Liabilities A note payable is issued for a face value of $100,000. The interest is 8% and the note is for 12 months. What is the cash flow impact to the issuer at the maturity of the note payable?How many months will it take to pay off a credit card debt of $4,000 by paying $250 per month at an annual interest rate of 2%? O A. 15.1 B. 16.2 OC. 17.8 O D. 12.7
- Assuming a 360-day year, when a $12,600, 90-day, 11% interest-bearing note payable matures, total payment will be Round your answer to the nearest whole dollar.If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (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 % % %Assuming a 360-day year, when a $16,098, 90-day, 8% interest-bearing note payable matures, total payment will be
