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.
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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.
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- 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 questionOn May 3, 2020, Leven Corporation negotiated a short-term loan of $685,000. The loan is due October 1, 2020, and carries a 6.86% 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 valueOn 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 carrying amount of the loan receivable on December 31, 2022? Beach Bank loaned Boracay Company P7,500,000 on January 1, 2019. The terms of the loan were payment in full on January 1, 2023 plus annual interest payment at 11%. The interest payment was made as scheduled on January 1, 2020. However, due to financial setbacks, Boracay Company was unable to make the 2021 interest payment. Beach Company considered the loan impaired and projected the cash flows from the loan on December 31, 2021. The bank accrued the interest on December 31, 2020, but did not continue to accrue interest for 2021 due to the impairment of the loan. The projected cash flows are: Date of cash flow Amount projected on December 31, 2021 December 31, 2022 500,000 1,000,000 December 31, 2023 December 31, 2024 December 31, 2025 2,000,000 4,000,000 The PV of 1 at 11% is 0.90 for one period, 0.81 for two periods, 0.73 for three periods, and 0.66 for four periods. a. 7,000,000 b. 5,449,600 c. 4,860,000 d.…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 valueOn 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
- The company purchased the equipment 600,000. The interest rate of bank is 12,400. The loan is denominated in OMR, matures on March 31 2019. The spot rate of OMR 2.50. What is the value of interest expenses?Select one:a. OMR 12,400b. OMR 1,500,000c. OMR 31,000d. None of the other pointsHi there, quick question. For an loan with a capital amount of 2500, initiation fee of 315, interest rate of 5%, initiation of loan takes place 04/01/2021 and first paid date is 02/02/2021 (Active for 29 Days), the calculated interest for this period was calculated to be 360.45. Interest is calculated using compound interest. Is there a way to work backwards to obtain the formula? To determine the accuracy.Lugia Bank granted a P4,000,000 loan to Ho-oh Company on January 1, 2020. The annual interest of the loan is 12% payable semi-annually. The loan matures in two years. The effective interest rate on the loan is 16%. (Round off present value factors up to four decimal point; only round off up to two decimals the final value) Questions: 1. What is the initial carrying amount of the loan? 2. How much is the interest income for the year 2020? 3, What is the balance of the discount on the loan as of December 31, 2020?
- 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?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 %What annual rate of return is implied on a $2,500 loan taken next year when $4,750 must be repaid in year 6 ? (Do not round intermediate calculations. Round your answer to 2 decimal places.)