On April 5, 2022, Janeen Camoct took out an 81% loan for $20,000. The loan is due March 9, 2023. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2023? (Ignore leap year.) (Use Days in a year table.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Maturity value

On April 5, 2022, Janeen Camoct took out an 81% loan for $20,000. The loan is due March 9, 2023. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2023? (Ignore leap year.) (Use Days in a year table.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Maturity value

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 2MCQ

See similar textbooks

Similar questions

On April 5, 2022, Janeen Camoct took out an 8.25% loan for $24,000. The loan is due March 9, 2023. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2023? (Ignore leap year.) (Use Days in a year table.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Maturity value
Complete the following table by using Table 15.1. ( Do not round intermediate calculations.Round your answers to the nearest cent.): Selling price: $158,000 Down payment: $31,000 Amount mortgage: ?? Rate: 6.50% Years: 30 Monthly payment: ?? First payment broken down into-- interest: ?? principle:?? Balance at end of month: ??
On April 5, 2019, Janeen Camoct took out an 7.75% loan for $22,000. The loan is due March 9, 2020. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2020? (Ignore leap year.) (Use Days in a year table.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Maturity value
On April 5, 2019, Janeen Camoct took out an 8.5% loan for $20,000. The loan is due March 9, 2020. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 9, 2020? (Ignore leap year.) Required: What are the number of days between the two dates listed below? Note: Use the DATEDIF or DAYS function to calculate the number of days. 4/5/2019 3/9/2020 What is your principal? Note: Answer should be entered as a numeric value and not a formula. What is your rate? Note: Answer should be entered as a numeric value and not a formula. What is the time? What total amount will Janeen pay on March 9, 2020?
On May 3, 2020, Leven Corporation negotiated a short-term loan of $660,000. The loan is due October 1, 2020, and carries a 5.40% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date? (Use Days in a year table.) Note: Do not round intermediate calculations. Round your answer to the nearest cent.
On May 3, 2020, Leven Corporation negotiated a short-term loan of $885,000. The loan is due October 1, 2020, and carries a 6.90% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date? (Use Days in a year table.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. X Answer is complete but not entirely correct. Maturity value $ 910,095.21 X Return to question
On May 3, 2020, Leven Corporation negotiated a short-term loan of $645,000. The loan is due October 1, 2020, and carries a 5.30% interest rate. Use ordinary interest to calculate the interest. What is the total amount Leven would pay on the maturity date? (Use Days in a year table.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Maturity value
You've borrowed $6,903.71 and agreed to pay back the loan with monthly payments of $270. Assume the interest rate is 15% stated as an APR. a. How long will it take you to pay back the loan? Note: Do not round intermediate calculations. Round your answer to the nearest whole number. Number of months b. What is the effective annual rate on the loan? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Effective annual rate %
Joyce took out a loan for $21,900 at 12% on March 18, 2017, which will be due on January 9, 2018. Using ordinary interest, how much will Joyce pay at maturity? Multiple Choice $2,168.10 $24,068.10 $24,038.40
On September 14, Jennifer Rick went to Park Bank to borrow $3,600 at 9.25% interest. Jennifer plans to repay the loan on January 27. Assume the loan is on ordinary interest. (Use Days in a year table.) a. What interest will Jennifer owe on January 27? (Do not round intermediate calculations. Round your answer to the nearest cent.) Interest $ b. What is the total amount Jennifer must repay at maturity? (Do not round intermediate calculations. Round your answer to the nearest cent.) Total amount $
1. Anny takes out a loan of $1,400, at 4% interest, for 42 months. Use the formula MV = P + I to find the maturity value (in $). $ ____ 2. Determine the maturity date of the loan. Loan Date Time of Loan (days) Maturity Date July 10 220 ---Select--- January February March April May June July August September October November December
simple interestSolve the following problems:1. Sassy borrowed P 10,500 on Nov. 6, 2020 to be repaid on April 11, 2021 at 15.3% interest in a year. How much will the interest be? Find the amount to be paid on the maturity date.2. Find the exact interest and the final amount due on P 12,350 at 11 % for 150 days, using ordinary interest.3. The interest on a loan of P 2,500 is P 165.00 . If the rate of interest is 6 %, when is the loan due?