The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.)Multiple ChoiceO$1,800.00.$450.00.$11.25.$37.50$112.50.4

Solution: Principal amount = $7,500 Interest rate = 6% Period = 90 days

Answered: The interest accrued on $7,500 at 6%…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 6.50%, t = 8 months
What is the present value of receiving $2,500 at the end of each year for 5 years, assuming 7% interest compounded annually? Please ideentify which table you used.
Suppose you borrow $14,000. The interest rate is 11%, and it requires 4 equal end-of-year payments. Set up an amortization schedule that shows the annual payments, interest payments, principal repayments, and beginning and ending loan balances. Round your answers to the nearest cent. If your answer is zero, enter "0". Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 60 $ fill in the blank 61 $ fill in the blank 62 $ fill in the blank 63 $ fill in the blank 64 2 $ fill in the blank 65 $ fill in the blank 66 $ fill in the blank 67 $ fill in the blank 68 $ fill in the blank 69 3 $ fill in the blank 70 $ fill in the blank 71 $ fill in the blank 72 $ fill in the blank 73 $ fill in the blank 74 4 $ fill in the blank 75 $ fill in the blank 76 $ fill in the blank 77 $ fill in the blank 78 $ fill in the blank 79
At the end of each quarter, Patti deposits $1,800 into an account that pays 10% interest compounded quarterly. How much will Patti have in the account in five years? (FV of $1, PV of $1, FVA of $1, and PVA of $1). (Use appropriate factor(s) from the tables provided.) Multiple Choice $45,980 $47,830 $47,780 $54,980 Prev 1 of 10 Next > APR 6. tv 4
What is the value today of receiving $3,400 at the end of four years, assuming an interest rate of 7% compounded annually? (FV of $1, PV of $1, FVA of $1, and PVA of $1). (Use appropriate factor(s) from the tables provided.) Multiple Choice $3,044 $2,794 $2,594 $2,448
Ma1. An insurance company advertises that $2,483.76 will purchase a 8 year annuity that pays $200 semi-annually at the end of the period. What quarterly compounded rate of return does the investment earn? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Rate of return = 0.00%
Sanchez placed $11114 into a five-year interest payout GIC at 4.2% compounded monthly. Calculate the interest payout amount every month. Select one: a. none b. 388.99 c. 38.90 d. 594.60
If the appropriate interest rate is 7%, then present value of $500 paid at the beginning of each of the next 40 years is closest to: $5960. $7132. $6439. $6,666. (Please correct answer and don't use hend raiting this finanas question)
You have taken a loan of $84, 000.00 for 25 years at 5.5% compounded quarterly. Fill in the table below: (Round all answers to 2 decimal places.) \table[[Payment number, Payment amount, Principal Amount, Interest, Balance.], [0),... S 84,000.00,1,1), vdots....S.
Solve it on excel
please show me a solution
The amount of interest on $X for two years is $330. The amount of discount on $X for one year is $144. Find the annual effective interest rate i and the value of X. (Round your answer for i to two decimal places. Round your answer for X to the nearest cent.) ¡ = 9.42 X X = $ 1672.66 X Submit Answer %

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

The interest accrued on $7,500 at 6% for 90 days is: (Use 360 days a year.) Multiple Choice O O $1,800.00. $450.00.