Complete the following table by filling in missing amounts. (Use 360 days a year.) Principal of Note Annual Interest Rate 27,200 7% 32,000 % 3% $ $ Time Period 90 days 180 days 270 days $ $ Interest 1,440 450

Concord Inc. received a five-year bank loan bearing interest at 7% with principal and interest instalment payments due annually. The following instalment payment schedule is partially completed: (a) Fill in the missing amounts. (Round answers to O decimal places, e.g 2,345.) Cash Payment $17,171 EA Interest Expense 4,071 2,173 1,129* Reduction of Principal $12,243 14,017 16,042 Principal Balance $70,400 58,157 45,057 16,042

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Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) (a) (b) (c) Date of Note April 1 July 2 March 7 Terms 60 days 30 days 6 months eTextbook and Media Maturity Date May 31 August 1 September 7 # + Principal $810,000 99,000 180,000 Annual Interest Rate 10 7% 8 % $ Total Interest 8100 $495 6400

Complete the following, using exact interest. (Use Days in a year table.) Note: Do not round intermediate calculations.Round the "Interest" and "Maturity value" to the nearest cent. Principal $ 2,900 Interest rate 9% Date borrowed May 21 Date repaid August 9 Exact time Interest Maturity value

You are told that a note has repayment terms of $1,700 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, eg. 5,275.25.) Total payment for principal Total interest Determine if the total interest will be higher or lower than with an annual payment. The total interest will be than with an annual payment.

Complete the following, using exact interest. (Use Days in a year table.) Note: Do not round intermediate calculations.Round the "Interest" and "Maturity value" to the nearest cent. Principal $ 2,100 Interest rate 5% Date borrowed May 9 Date repaid August 14 Exact time Interest Maturity value

Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) (a) (b) (c) Date of Note April 1 July 2 March 7 Terms 60 days 30 days 6 months Maturity Date May 31 August 1 September 7 Principal $570,000 93,600 115,000 Annual Interest Rate 10 % % 11 % $ tA $ Total Interest $702

The interest on a $3,000, 10%, 180-day note receivable is (assume 360 days per year) O $150 O $3.300 O $300 $3000 Onmi ERCO DUTO