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. $2,383Simple Interest: A $45,000 loan at 3.75% dated June 10 is due to be paid on October 11. Using ordinary interest, what is the amount of interest?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 0Complete the following table: Selling price $231,000, Down payment $46,200, Amount mortgage $184,800, Rate 7.00%, Years 15, Monthly payment $1,661.35. What is the interest and principal on first payment? What is the balance at end of month?
- Interest is $405 on a principal balance of $5,000; assuming a 7 month loan what is the rate?Please help me.with this question general AccountingAssuming 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 beFinancial accounting
