A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal $2000 Effective Date Date April 1 May 1 Click the icon to view a table of the number of the day of the year for each date. Partial Payment Rate 5% Amount $1000 The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.) Maturity Date June 1
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- A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Effective Partial Payment Maturity Principal $4000 Rate Date Amount Date Date More Info 5% April 1 $3000 May 1 June 1 Click the icon to view a table of the number of the day of the year for each date. The balance due on the note at the date of maturity is $ Days in Each Month (Round to the nearest cent as needed.) Day of 31 28 31 30 31 30 31 31 30 31 30 31 Month Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Day 1 1 32 60 91 121 152 182 213 244 274 305 335 Day 2 2 33 61 92 122 153 183 214 245 275 306 336 Day 3 34 62 93 123 154 184 215 246 276 307 337 Day 4 4 35 63 94 124 155 185 216 247 277 308 338 Day 5 5 36 64 95 125 156 186 217 248 278 309 339 Day 6 6. 37 65 96 126 157 187 218 249 279 310 340 Day 7 7 38 66 97 127 158 188 219 250 280 311 341…A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal $3700 Rate 6.5% Effective Date Partial Payment Amount Date Maturity Date Jan. 1 $1000 May 1 July 31 Click the icon to view a table of the number of the day of the year for each date. The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.)A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written) Assume the year is not a leap year. Principal $3000 Rate 4% Effective Date April 1 Partial Payment Amount $1000 Maturity Date June 1 Date May 1 Click the icon to view a table of the number of the day of the year for each date The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.) GITTE
- Partial payments are made on the dates indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal Rate Effective Date Partial Payment Maturity Date Amount Date $10,100 8% Sept. 1 $2,000 Oct. 1 Dec. 1 $3,000 Nov. 15 Question content area bottom Part 1 The balance due on the note at the date of maturity is $5.) A partial payment is made on the date indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The effective date is the date the note was written) Assume the year is not a leap year. Effective Partial Payment Maturity Date Principal $6000 Rate Date Amount Date 3% July 15 $4000 Dec. 27 Feb. 1Partial payments are made on the dates indicated. Use the United States rule to determine the balance due on the note at the date of maturity. (The Effective Date is the date the note was written.) Assume the year is not a leap year. Principal $12,000 Rate 4% Effective Date Sept. 1 Partial Payment Date Oct. 1 Nov. 15 Amount $1,000 $4,000 The balance due on the note at the date of maturity is $ (Round to the nearest cent as needed.) Maturity Date Dec. 1
- Find the adjusted balance (principal) using the U.S. Rule (360 day) after the first payment. Principal Rate Total TIme for Note Note Amount Partial Payment on Day 30 Partial Payment on Day 90 11% 120 days $7,000 $900 $1,200Compute the present values of the following annuities first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Present Value Present Value Interest Rate (Payment made on last day of period) (Payment made on first day of period) Payment Years (Annual) 748.09 8. 14 % 8,668.26 14 7 21,022.93 24 70,412.54 32Problem: ABC Company issued a promissory note to RCBC Bank. Details from the promissory note are as follows: Date of note: November 1, 2020 Term of note: 180 days Principal: P120,000 Interest rate: 12% Determine the following: 1. What is the account to be credited on the adjusting entry on December 31, 2020? 2. How much is the amount to be credited on December 31, 2020? 3. How much is the total interest expense for the full term of the note.
- Label all final answers with the correct units, if applicable. Unless otherwise stated, use 4 decimal places for intermediate computations of interest rates (if needed) then round off final answers to two decimal places. For monetary amounts, use 2 decimal places even for intermediate computations. 6. Consider a bank account with the following transactions for the month of June 2021: No. of Days Balance is Balance June Deposit Withdraw for the Day Unchanged * 1 20,000 20,000 * * 14 16,500 10,500 * 21 11,000 * * 30 16,500 4,000 a. Supply the correct data in the boxes marked with * b. What is the average daily balance for this account for the month of June? c. If a bank advertises an interest rate of 1.5% per year compounded monthly, what is the total interest earned for this month?Compute the future values of the following annuities first assuming that payments are made on the last day of the period and then assuming payments are made on the first day of the period: (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) Future Value (Payment Payment Years Interest Rate (Annual) made on last day of period) $ 243 15 12 % 5,755 10 11 75,684 7 13 168,532 11 4 Future Value (Payment made on first day of period)Find the adjusted balance (Principal) using the U.S.Rule (360days) after the first payment. Rate: 11% Total Time for Note: 120 days Note Amount: $7,000 Partial payment on day 30: $900 Partial payment on day 90: $1,200