what is the due date for a loan dated Nov 7 for 120 days?

Q: Suppose your MasterCard calculates interest using the average daily balance method, and the monthly…

A: "Since you have posted a question with multiple sub-parts, we will provide the solution only to the…

Q: Determine the number of months (rounded off to the nearest month) required for a deposit of $2968.84…

A: Here aked to calculate time for deposit in months.  Interest = principal amount* rate* time

Q: What is the due date of a 220 day loan made on February 12?

A: Due Date: It represents the day when the accruals on the loan fall due. Another name for the due…

Q: provide correct answer please

A: Step 1: Introduction to Promissory Note:A promissory note is a financial instrument prepared by the…

Q: 4)A promissory note for $800.00 dated January 15, 2017, requires an interest payment of $100.00 at…

A: Introduction:- This question involves the calculation of the due date of a promissory note, which is…

Q: he Tomac Swim Club arranged short-term financing of $12,500 on July 20 with the Bank of Commerce and…

A: Interest =Amount of loan *rate of interest *period

Q: What are the three components of the interest formula?Explain how this formula adjusts for interest…

A: Interest: The money charged by the lender for using lender’s funds is referred to as interest. So,…

Q: An invoice for $5313 is dated May 12 and offers terms of 2/20-40x. If the invoice is paid on July…

A: Discounts are offered by the seller to collect payment from the buyer in fewer days.

Q: hat relationship exists between the length of the loan and the monthly payment? How does the…

A: Loans are paid by the monthly payments that are fixed payments and the monthly payments carry the…

Q: With regard to mortgages, how is the monthly payment including principal and interest categorized as…

A: An annuity refers to the annual payment of a debt which includes a portion of principal as well as…

Q: Find the maturity value of the given loan amount. $2,234 borrowed at 12⅛% from March 10 through…

A: Future Value: The future value is value of present amount compounded at an interest rate until a…

Q: Determine the maturity date of the loan (not in a leap-year). Loan Date Time of Loan (days) Maturity…

A: The maturity date is the date on which the final payment of the loan is due. At the time of…

Q: What is Debt Service?

A: Step 1 The amount of money required to pay interest on the loan with the principal over some time is…

Q: The maturity date of a note receivable: Multiple Choice O Is the day of the credit sale.

A: Notes receivable represents promise to receive certain amount promised by issuer on a specific date.…

Q: Determine the due date and the amount of interest due

A: Required details are given below

Q: On January 1 of this year, Diorite borrows $100,000 with a 5%, 9-month loan. Interest is due at…

A: Journal entries means the book of prime entry incuding debit and credit item. Adjusting entry means…

Q: Determine the number of days from Actual time to Approximate Time Loan Date- Feb. 5, 2021 End…

A: In actual time, actual days in a month are considered. In approximate time, every month's days are…

Q: What was the principal amount of a loan at 9%fS67.78 of interest accrued from October 28 2014, to…

A: Interest accrued is the amount of interest calculated on the principal. In this question the…

Q: 11. What is the maturity date of a loan taken out on May 7, for 74 days? May 31 June 19     July 17…

A: The maturity date of the loan can be calculated as current date plus the loan tenure.  After May 7,…

Q: Find the due date ( actual time ) and Due date ( approximate time )

A: Due date refers to the date at which any event or payment will due. Due date of loan refers to the…

Q: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an…

A: Formula: Interest amount = Loan amount x Interest rate x Time period

Q: Number of Payments Payments Remaining Payments Made 18 3 Sum-of-the- Digits Payments Remaining…

A: When a buyer buys goods on credit, he has to pay the remaining installments after paying the down…

Q: Determine the maturity date of the loan (not in a leap-year). Loan Date Time of Loan (days)…

A: Loan date = Feb 8 Loan duration = 110 days As it is not a leap year, Feb has 28 days

Q: Compute the maturity date and interest for the following notes.( use 360 days for calculation) Dates…

A: Notes payable is a term in accounting that represents a written agreement or promissory note made by…

Q: A seven-month promissory note for $7,800 dated March 12, 2016 bears interest at 8% a. What is the…

A: Promissory note: It can be defined as a financial instrument containing a written promise of paying…

Q: March 6: A long-term note for $60,000 was taken out from the bank. The loan is for two years with an…

A: The journal entries are prepared to record the transactions on regular basis. The adjustment entries…

Q: Journalize the entry to record the payment of the second installment the following June 30

A: Interest is charges on the maximum balance payable. Interest = Principle Outstanding x rate of…

Q: Pamela borrowed $18,000 for investment purposes on March 12 on a demand note providing for a…

A: Here, Borrowed Amount is $18,000 on March 12 Payment of $1,780 on June 17 Payment of $1,810 on…

Q: A RO40,000, interest-bearing note payable is signed on December 26, 2020. If the note is a 120-day…

A: Notes Payable- It is type of financial instrument which helps the entity is collecting fund at a…

Q: if a company sold a product for $100 and it includes a 20 days warranty that has a value of $20.…

A: The company would recognize $80 of revenue and $20 would be recorded to unearned warranty revenue.…

Q: Determine the due date and the amount of interest due at maturity on the following notes:   Date…

A: Amount of interest due at maturity = Notes face value x rate of interest x no. of days / 365 days

Q: 2. credit terms :5, 1/15, n/45. When will be the maturity period if sold Feb 19?

A: solution concept credit term :5,1/15,n/45  means that if the amount is paid within 15 days from date…

Q: Determine the due date and the amount of interest due at maturity on the following notes: Face…

A: For the calculation of Due date - The number of days are counted from the date of note.Interest =…

Q: annual pay All of them

A: Loan are given to clients to pay the loan back by periodic equal payments.