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%?Simple 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 maturity value of the note on these financial accounting question?What will be the total interest earned on a 6%, $2,000 note receivable that is due in nine months?Suppose 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?
- Interest is $405 on a principal balance of $5,000; assuming a 7 month loan what is the rate?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
