Subject: Financial Accounting Safe Bank's loan agreement specifies: principal $50,000, annual interest rate 8%, term 3 months. Calculate the total interest payable for the loan period.
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- A company collects an honored note with a maturity date of 24 months from establishment, a 10% interest rate, and an initial loan amount of $30,000. Which accounts are used to record collection of the honored note at maturity date? A. Interest Revenue, Interest Expense, Cash B. Interest Receivable, Cash, Notes Receivable C. Interest Revenue, Interest Receivable, Cash, Notes Receivable D. Notes Receivable, Interest Revenue, Cash, Interest ExpenseA 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. $2,383Everglades Consultants takes out a loan in the amount of $375,000 on April 1. The terms of the loan include a repayment of principal in eight, equal installments, paid annually from the April 1 date. The annual interest rate on the loan is 5%, recognized on December 31. (Round answers to the nearest cent, if needed.) A. Compute the interest recognized as of December 31 in year 1. B. Compute the principal due in year 1.
- Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Rate (%) Principal $54,000 Enter a number. X % Time 60 days Interest $873using the ordinary interest method, find the amount of interest on a loan of $5,000 at 10 1/2% interest, for 274 daysComplete the next line of the schedule. 
- Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to the next highest day when necessary. Principal Rate (%) $7,700 10.4 Time days Interest $226The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $445.22 Remaining Number of Scheduled Payments after Payoff 6 APR 11.0% Click the icon to view the annual percentage rate table. (a) h=$ (b) The unearned interest is $ (c) The payoff amount is $ (Round to the nearest cent as needed.) (Round to the nearest cent as needed.)Subject :- Account
