Q: Compute interest and find the maturity date for the following notes. (Use 360 days for calculation.)…
A: Interest is computed as Principal * rate * term / no.of days in a year. Maturity date is the date…
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 Feb. 12? Group of answer choices Sep 20 Sep 21 Aug…
A: Given that Starting date of loan = 12th Feb When counting a time period, both the start date and…
Q: What is the number of months required for a deposit of $1320 to earn $16.50 interest at 3.75%?
A: Deposited amount or principal balance is $1320 Interest earned is $16.50 Interest rate is 3.75% To…
Q: On January 23 of a non-leap year, a loan is taken out for $15,230 at 8.8% simple interest. What is…
A: Simple interest can be calculated by using this formula Simple interest =Principal*Rate*Time
Q: Find the amount due if $200 is borrowed for 4 months at 17% simple interest
A: Amount due refers to the net amount that needs to be either paid by the borrower to the lender or to…
Q: The annual rate of interest on a mortage loan is 11 1/2% the monthly interest payment is $453.76..…
A: Annual interest rate = 11.5% Monthly interest rate = Annual interest rate / 12 = 11.5%/ 12…
Q: From the information given below, determine the due date for the following notes: Date Issued…
A: Due date of note: When a debtor takes goods in credit, he issues a note that the payment of these…
Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…
A: Interest is the amount charged by bank in consideration of advancing loan to its borrowers. It is…
Q: What is the due date of a $12,000 90-day, 8% note receivable dated August 5?
A: Maturity date of notes receivable is calculated on the basis of the wordings in the note. If it is…
Q: (a) What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the…
A: Rebate: It is the amount of money that is returned or credited to the customer in regard to a…
Q: What is the maturity date of a loan for $3,000 at 15% exact interest taken out on June 4? The amount…
A: in this we have to calculate the period of loan.
Q: A financing company charges 1.5% every two months on a loan. Find the equivalent effective rate of…
A: Effective rate: It is the rate which is compounding one time in a year or yearly.
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: On a 365-day basis, what is the rate per period of using trade credit if terms are 2/10, net 30, and…
A: On making payment till 10th day there is 2% discount. If payment is made between 11th till 30th day,…
Q: What is the maturity date of a loan for $8,000 at 15% exact interest taken out on June 5?
A: Given information is: Loan amount = $8000 Interest rate = 15% Interest amount = $240
Q: original
A: Formula to calculate the loan amount is: PV = FV/(1+i)^n Where PV is the present value FV is the…
Q: A bank charges 11% simple discount on short term loans. Find the sum received by the borrower who…
A: Introduction: Simple interest is considered to be one of the simple methods used in calculating the…
Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…
A: Interest is the amount charged by bank in consideration of advancing loan to its borrowers. It is…
Q: Determining the number of days
A: In Actual number of days we count the exact number of days between…
Q: Find the simple interest paid on a $510 loan at 7.8% annual interest for 19 months.
A: Simple interest can be calculated as: = Principal * Rate * Months / 12
Q: a) What is the rebate fraction of a 36 month loan paid off after the 15th payment?
A: Solution: (a). Loans paid off after 15 th payment. Number of payments remaining = 36 - 15 = 21 Total…
Q: due on a loan of $600 at 15.75% interest after 21 m
A: Given Principal Amount = $ 600 Period = 21 Months Interest Rate = 15.75% pa or 1.31% pm FV=…
Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 7? The amount…
A: Loan amount = $ 6,000 Interest rate = 15% Interest amount = $ 180 Loan date = June 7
Q: of money will be required to settle an obligation of 10,500 on April 1, 1992, if the loan is made on…
A: In this we need to find out the future value of loan.
Q: T Find the amount of interest and the maturity value of the following loan. Principal Rate (%) Time…
A: Following is the answer to the given question
Q: (a) What is the rebate fraction of a 36 month loan paid off after the 13th payment? (b) What is…
A: Total loan period = 36 months Months completed =13 months Remainig months = total loan period -…
Q: Determine the maturity date of the loan.
A: Maturity period or date of a loan or deposit is the time period when the total amount of loan i.e.…
Q: A loan of ₱2,000 is made for a period of 13 months, from January 1 to January 31 the following year,…
A: The future amount due at the end of the loan period is the sum of the principal amount and the…
Q: What is the time period of a loan for $2,250, at 13% exact interest, if the amount of interest is…
A: Loan = 2250 Interest Rate = 13% Interest Amount = 110.59
Q: A loan of P15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due…
A: Notes Payable - Notes Payable is the liability for the company which needs to be paid after a fixed…
Q: A bank charges a simple discount at 11% interest rate on short term loans. Find the sum received by…
A: Answer
Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 6? The amount…
A: Simple Interest = Principal × Rate × Time $180 = $6,000 × 15% × Time Time = ($6,000 × 15%) / $180…
Q: What is the maturity date of a loan for $9,000 at 15% exact interest taken out on June 4? The amount…
A: Given: Principal amount =$9000Interest rate =15% Loan taken on June 4 Interest on loan per annum…
Q: What is the total payback amount of the loan? What is the amount of each payment? /month What is the…
A: Time value of money (TVM) refers to the method used to measure the amount of money at different…
Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 8…
A: Interest Amount = Principal * Interest rate * Number of months / 12
Q: What is the amount of interest revenue that must be accrued on December 31st for a nine-month, 6%,…
A: Note receivable $ 2000. Interest 6% Accapted on 1st November
Q: On April 12, Michelle Lizaro borrowed $5,000 from her credit union at 9% for 80 days. The credit…
A: Interest = Principal * rate * time where, Principal = $5,000 rate = 9% time = 80 days
Q: Using the ordinary interest method, find the amount of interest on a loan of $11,000 at 11 %…
A: Interest amount is the fixed amount that the bank or other lender will charge for lending amount for…
Q: What is the time period of a loan for $3000 at 10% ordinary interest if the amount of interest is…
A: Ordinary interest refers to the simple interest which is charged on a loan. This interest is charged…
Q: What is the maturity date of a loan for $3,000 at 15% exact interest taken out on June 5? The amount…
A: In this question maturity date is to be calculated. Maturity date is the date at which the loan…
Q: On a 365-day basis, what is the rate per period of using trade credit if terms are 2/10, net 30, and…
A: Here, Credit Terms is 2/10 net 30 Payment is made on the 20th day Days in an year is 365
Q: Find the due date of the following : Date of loan Time July 31, 2019 118…
A: The Due Date: The due date is the date on which a debt, loan or obligation needs to be repaid/met.…
Q: ( A)What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is…
A: Rebate fraction can be calculated by using this equation Rebate fraction =Sum of digit of remaining…
Q: (a)What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the…
A: Formula used Rebate Fraction = Sum of remaining periods/Sum of total periods
Q: 1. What is the maturity date of a loan taken out on May 16, for 53 days? A. June 30 B. July 1 C.…
A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…
Q: A loan of $2500 is taken out on May 12. It is to be paid back within a 1-year period with partial…
A: Declining balance method aims to calculate the amount of interest on the unpaid balance of loan on…
what is the due date for a loan dated Nov 7 for 120 days?
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- What is the due date of a 220 day loan made on February 12?(a)What is the rebate fraction of a 36 month loan paid off after the 12th payment? (b) What is the rebate fraction of a 42 month loan paid off after the 18th payment?11. What is the maturity date of a loan taken out on May 7, for 74 days? May 31 June 19 July 17 July 20
- What is the due date of a 220-day loan made on Feb. 12? Group of answer choices Sep 20 Sep 21 Aug 20 July 30Determine the maturity date of the loan (not in a leap-year). Loan Date Time of Loan (days) Maturity Date February 8 110 JuneWhat is the principal loan balance after 7th monthly amortization payment?
- What is the carrying amount of the loan Receivable on December 31, 2017?Determine A) Determine the monthly interest rate i charged by Coco-me-Loan B) How much is the principal repaid during the 4th month? C) What is the principal loan balance after 7th monthly amortization payment?6. Determine the maturity date of the loan (not in a leap-year). Loan Date Time of Loan (days) Maturity Date February 8 110
- What is he initial carrying value of the loans receivable as of Dec 31, 2019?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 DecemberDetermine the maturity date of the loan. Loan Date Time of Loan (days) Maturity Date July 8 220 -Select---
