On October 1, $10,500 is deposited at at 8% for 60 days. What is the due date and the amount of interest due at maturity?
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- Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?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. $2,383An amount of 5 million is placed on deposit from 17 August to 31 December at 6.7%. What would be the interest earned if the rate had been quoted on an ACT/365, ACT/360 or 30/360 basis?
- A promissory note for $800 dated January, 15, requires an interest payment of $ 130at maturity. If interest is at 12% p.a. compounded monthly , determine the due date of the note.Determine the number of months (rounded off to the nearest month) required for a deposit of $2968.84 to earn a $216.72 interest at 7.57%.If the company accepted a Notes Receivable on Oct 1, X1 for $60,000 at 8%, due in one year, what is the Maturity value?
- Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note a. January 10* $40,000 5% 90 days b. March 19 18,000 8 180 days c. June 5 90,000 7 30 days d. September 8 36,000 3 90 days e. November 20 27,000 4 60 days *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest a. $fill in the blank 2 b. fill in the blank 4 c. fill in the blank 6 d. fill in the blank 8 e. fill in the blank 10If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest Expense: 511 Note Payable: 4700What 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?
- On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $22,500. What is the adjusting entry for the accrued interest at December 31 on the note?What is the future value on December 31, Year 5, of a deposit of $25,000 made on January 1, Year 2, assuming interest of 12% compounded semiannually?A loan company advertises that $100 borrowed for one year may be repaid by 12 monthly installments of $9.46. Assuming the difference between the amount repaid and the amount borrowed is interest only, what is the effective annual interest rate being charged?
