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?Complete 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?
- 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?Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464
- Cash is borrowed on a 2-month note payable. If the interest cost to borrow is RO 400 what is the actual interest rate on this note? a. 12.00% b. 10.00% c. 20.00% d. 22.50%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
