Is the interest on a 6%, 60 day note for 5,000, 300?
Q: An interest-bearing promissory note for $5,500 is due in 180 days with simple interest at 4.75% p.a.…
A: Here, Face value = 5,500 Interest rate = 4.75% Discount rate = 6.75% Time to maturity = 180 days…
Q: Hy Potenuse bought a $10,000 T-bill at a 0.115 percent discount rate for13 weeks (91 days).a. How…
A: a) Computation:
Q: A 102-day note for $85 bears simple interest at 4.5% and is sold 22 days before maturity to a bank…
A: Notes Receivables: It is possible to get a note receivable by writing a promise to receive a…
Q: Suppose you take out a loan for 180 days in the amount of $15,500 at 13% ordinary interest. After 40…
A: answer principal amount = $15,500 rate of interest = 13% partly payment after 40days partly…
Q: If you sign a discount note for $4,400 at a bank discount rate of 8%, for 90 days, what is the…
A: Effective annual rate is defined as the actual rate that is earned on the investment. It shows the…
Q: Prepare the following calculations. principle on a note is $ 4,000, interest rate is 5%, time is 2…
A: 1. Interest = Principle x Interest rate x Time in Years = $4000 x 5% x 2 = $400 2. Interest =…
Q: At what nominal rate of interest, convertible monthly, is $16,000 the present value of $290.10 paid…
A: Given: Future value = $16,000 Present value = $290.10 Years = 6 years Periods = 6*12 = 72
Q: The bank discount of a 90 - day simple discount note for $ 18,000 with an 8\% discount rate is :
A: The conceptual formula is:
Q: You sign a simpie discount promissory note for $7,000 at a discount rate of 5%, for 30 months. What…
A: Given: Discount rate = 5% Amount = $7,000 Period = 30 months
Q: What will be the total interest earned on a 6%, $2,000 note receivable that is due in nine months?
A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…
Q: A deposit of $350 earns the following interest rates: 8 percent in the first year. 6 percent in the…
A: Time value of money is the concept widely used by companies and individuals to determine the current…
Q: A 2300 note with interest is repaid after 90 days with a check for 2,374.75 What was the interest…
A: Interest Amount = P * R * TWhere P = PrincipalR = Rate of InterestT = Time Period…
Q: For a two note payable of $10,000 at 6% interest, what is the total amount paid back?
A: Notes payable form a part of liabilities of the company and pertain to the obligations of the…
Q: A $12,000 non-interest-bearing promissory note is discounted at 6% compounded monthly, three years…
A: Maturity amount (MV) = $12,000 Interest rate = 6% Monthly interest rate (r) = 6%/12 = 0.50% Period =…
Q: The face value of the note was $15,000, and the proceeds were $14,550. What was the discount rate of…
A: Discount rate = (1- Net proceeds / Face value) * Days in a year / Days of note
Q: Assuming a 360-day year, when a $17,100, 90-day, 8% interest-bearing note payable matures, total…
A: The note payable is issued to creditor as a promise to pay in future.
Q: The interest charged on a $420000 note payable, at the rate of 6%, on a 60-day note would be
A: Interest expenses = Notes payable amount * Rate * Days / 365
Q: You decide to discount a$5250, 345-day note at 3% to your bank at a discount rate of 4.5% on day…
A: Calculation of Proceeds:Assuming there are 360 days in a year.The proceeds are $5,309.80.Excel…
Q: The interest on a 6%, 60-day note for $5,000 is $300. O True O False
A: Interest = Note value × Interest rate ×60/360
Q: A payday loan company charges a $25 fee for a $550 payday loan that will be repaid in 14 days using…
A: Interest Amount = Principal * Rate * Time
Q: A 7 year, $7,500 promissory note bearing interest at 6% compounded monthly was sold after 2 years.…
A: Face Value of Promissory note = $7500 Interest rate = 6% Interest rate monthly = 6%/12 = 0.50%…
Q: How much is the exact interest earned if P4,500 is lent at 12% interest for 125 days?
A: Investment = P4,500 Interest rate = 0.12 or 12% Number of days = 125 days Interest earned = ? In…
Q: Citibank pays 9% ordinary simple interest on a 30-day time deposit. If Gino deposits Php 1 500.00,…
A: Amount of simple interest can be calculated using formula = final amount = initial…
Q: Suppose I secure a simple interest note for $4500. The length of the note is 102 months and the…
A: Interest = Principal * rate * time Interest = $4500 * 6.20% * 102 /12 Interest = $2,371.50
Q: What is the annual rate of interest being charged on a 3-month note receivable of $51,000 if the…
A: Introduction: A note receivable is a documented promise to pay a set amount of money to another…
Q: The face value of a simple interest note and bank discount note is $8,000each. Assume both notes…
A: “Hey, since your question has multiple sub-parts, we will solve first three sub-parts for you. If…
Q: The interest charged on a $350,000 note payable, at the rate of 6%, on a 60-day note would be Group…
A: Notes Payable: Notes payable is a debt agreement between two parties. Under this agreement, a…
Q: An interest bearing promissory note for 90 days at 5.6% p.a. has a face value of $120,000. If the…
A: Step 1 Discount of trade bills is short-term financing or credit facility provided by bank in which…
Q: TORR, Inc. issues a $500,000, 6%, six-year note on January 1, 20X1. If the monthly payment is…
A: A note is one of the debt instruments that is issued by companies in order to raise funds. Note…
Q: payday loan company charges a $40 fee for a $450 payday loan that will be repaid in 11 days using…
A: You need to understand 4 steps to calculate annual interest rate for pay day loan…
Q: A $10,000 note with 6% interest payable quarterly is purchased for $8,000. The note matures in 5…
A: Par value = $10,000 Coupon rate = 6% Quarterly coupon amount = 10000*0.06/4 = $150 Period = 5 Years…
Q: The interest on a $4,800 note at 5% for 4 months is ________.
A: Formula: Interest amount = Note value x Interest rate x Time period.
Q: The ordinary simple interest charged after 130 days on a loan of 10,000 200 pesos is 775 pesos find…
A: Simple interest is simple interest without any impact of compounding that means no interest on…
Q: An interest-bearing note for 118 days at 6.4% p.a. simple interest has a face value of $4053. If the…
A: Notes are issued to discount that is interest and number of days to maturity of note. Proceeds from…
Q: If a 9-month term deposit at a bank a simple interest rate of 9% per annum, how much will have to be…
A: Simple Interest is the interest amount calculated on the principal amount to the savings account.
Q: Calculate the price of a 180-day Treasury bill purchased at a 5% discount rate if the T-bill has a…
A: Time period is 180 days Discount rate is 5% Face value or FV is E5,000 To Find: Price of T- bill
Q: The interest charged on a $98000 note payable, at the rate of 6%, on a 4-month note would be O…
A: Solution: Interest charged = Amount of Note * interest rate * 4/12 = 98000 * 6% * 4/12 = $1960
Q: Chang, Inc. issued a 120-day note in the amount of $360,000 on 12/16/17 with an annual rate of 5%.…
A: Accrued interest is $739.73. Computation of accrued interest: Excel spread sheet:
Q: The interest charged on a $234000 note payable, at the rate of 6%, on a 90-day note would be (Use…
A: Note payable: Note payable is also referred as promissory note. In this, borrower obtains a…
Q: the monthly payment is $5,800, what is the note's carrying value after the first month's payment is…
A: The original cost of an asset, as recorded in the books or balance sheet of a corporation, less the…
Q: Kate Davidson signed a simple discount note for $9000 the discount rate is 5% and the term of the…
A: In finance, a simple discount note is a promissory note in which a borrower promises to repay the…
Q: The interest on a $3,000, 10%, 180-day note receivable is (assume 360 days per year} $150 $3,300…
A: The financial position of the company can be arrived from the income statement prepared by the…
Q: The face value of a simple interest note and blank discount note is $8,000 each. Assume both notes…
A: The provided information are: Face value for both simple interest note and blank discount rate =…
Q: Calculate the missing amount for each of the following notes receivable.Face Value Annual…
A: Note receivable: Note receivable refers to a written promise received by the creditor from the…
Q: 2. If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much…
A: Given rate of interest = 9% Required interest = 225 Period = 9 months Interest under simple interest…
Q: If a note provides for payment of principal of $85,000 and interest at the rate of 6%, will the…
A: Receivables:Receivables refer to an amount to be received in future. General classifications of…
Is the interest on a 6%, 60 day note for 5,000, 300?
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- The interest charged on a $222000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $3330. $1110. $13320. $6660.For a two note payable of $10,000 at 6% interest, what is the total amount paid back?If you sign a discount note for $9,500 at a bank discount rate of 9% for 3 months, what is the effective interest rate (as a %)?
- 13)The interest charged on a $630,000 note payable, at the rate of 10%, on a 60-day note would be? a)$3,500. b)$5,250. c)$10,500. d)$21,000.What is the effective interest rate of a simple discount note for $27,500,at an ordinary bank discount rate of 10%, for 30 days? Assume that there are 360 days in a year. Question content area bottom The effective interest rate is ??? (Round to the nearest tenth as needed.)1. Citibank pays 9% ordinary simple interest on a 30-day time deposit. How much money will the depositor have at the end of the 30-day period if he or she deposits P1,500.00?
- What is the annual rate of interest being charged on a 9-month note receivable of $54,000 if the total interest is $1,620? Multiple Choice O 4% 3% 6% 7%What is the maturity value for a discount note of $7,000, 120-day, with a discount rate of 6%?The interest on a 6%, 60-day note for $5,000 is $300. O True O False
- If you sign a discount note for $4,400 at a bank discount rate of 8%, for 90 days, what is the effective interest rate?A 102-day note for $85 bears simple interest at 4.5% and is sold 22 days before maturity to a bank that uses a simple interest rate of 8%. What are the proceeds?What is the effective interest rate of a simple discount note for $31,200, at an ordinary bank discount rate of 14%, for 30 days? Assume that there are 360 days in a year. The effective interest rate is %. (Round to the nearest tenth as needed.) E 4