Complete the following table by filling in missing amounts.Note: Use 360 days a year.$Principal of Note18.200Annual Interest RateTime PeriodInterest10 %90 daysS20,000%180 days$1,2006 %270 days$729

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Answered: Complete the following table by filling…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Principal Rate (%) $ +A 8 Time Interest 14/1/2 years $1,080
Calculate the missing information for the loan. Round percents to the nearest tenth and days to the next higher day when necessary. Principal(in $) Rate(%) Time(days) InterestMethod Interest MaturityValue $ ?? 10.8 days Exact $2,000 $47,000
10) Compute the simple interest and final amount of each loan Principal Rate Time P 400 7% 1 year P 640 9% 3 months P 985 10% 180 days (ordinary time period) 60 days (exact time period) P 850 6% ABCD Interest ? ? ? ? Final amount ? ? ? ?
Complete the following without using Table12.1. Note: Round the "Total amount" and "Total interest" to the nearest cent. Principal: $1,360 Time (years): 1 Rate of compound interest: 10% Compounded: Quarterly Periods: Rate: % Total amount: Total interest: Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 1 1.0050 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.0950 1.1000 2 1.0100 1.0201 1.0302 1.0404 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1236 1.1342 1.1449 1.1556 1.1664 1.1772 1.1881 1.1990 1.2100 3 1.0151 1.0303 1.0457 1.0612 1.0769 1.0927 1.1087 1.1249 1.1412 1.1576 1.1742 1.1910 1.2079 1.2250 1.2423 1.25.97 1.2773 1.2950 1.3129 1.3310 4 1.0202 1.0406 1.0614 1.0824 1.1038 1.1255 1.1475 1.1699 1.1925 1.2155 1.2388 1.2625 1.2865 1.3108 1.3355 1.3605 1.3859 1.4116 1.4377 1.4641 5 1.0253 1.0510 1.0773 1.1041 1.1314 1.1593 1.1877…
Complete the following without using Table12.1. Note: Round the "Total amount" and "Total interest" to the nearest cent. Principal $ 1,340 Time (years) 1 Rate of compound interest Compounded Periods 6 % Quarterly Rate % Total amount Total interest
Calculate the missing amount for each of the following notes receivable.Face Value Annual Interest Rate Fraction of the Year Interest $11,000 6% 4 months (a) $30,000 5% (b) $1,500 $35,000 (c) 6 months $1,225 (d) 8% 6 months $ 700
Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $ 9 6 months $1,575
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 (%) Time Interest $7,300 10.4 __________ DAYS $227
USE THE FOLLOWING INFORMATION FOR THIS QUESTION: Installment note payable borrowed from the bank Present value interest factor from table Signed for Annual interest rate Payments are made 195,060 $7,802 $99,442 The outstanding loan balance at the end of year 3 equals what amount? $103,420 zero $287,000 unable to determine 2.77509 3 years 4% Annually
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Calculate the missing amount for each of the following notes receivable. Face Value Annual Interest Rate Fraction of the Year Interest $10,700 6 % 4 months $27,000 5 % months $450 $32,000 % 6 months $640 10 % 6 months $670
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Complete the following table by filling in missing amounts. Note: Use 360 days a year. $ Principal of Note 18.200 Annual Interest Rate Time Period Interest 10 % 90 days S 20,000 % 180 days $ 1,200 6 % 270 days $ 729