The interest on a $4,800 note at 5% for 4 months is ________.
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1. The interest on a $4,800 note at 5% for 4 months is ________.
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- You are told that a note has repayment terms of $1,700 per quarter for 6 years, with a stated interest rate of 8%. How much of the total payment is for principal, and how much is for interest? Calculate using (a) financial calculator or (b) Excel function PV. (Round answers to 2 decimal places, eg. 5,275.25.) Total payment for principal Total interest Determine if the total interest will be higher or lower than with an annual payment. The total interest will be than with an annual payment.Answer the following questions. (Round interest rate to 0 decimal places, e.g. 7%.)(1) If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest Expense: $511 Interest Payable: $141 Note Payable: $4,700Prepare the following calculations. principle on a note is $ 4,000, interest rate is 5%, time is 2 years. Interest? _______________. principle on a loan is $ 3,700, interest rate is 8%, time is 9 months. Interest? ______________. principle on note is $ 9,600, interest rate is 4%, time is 90 days. Interest? __________________. Sales are $1,600, cash discount terms are 2/10 n 30. paid in discount period. Sales discount ? _____________. remit? _____________________. sales are $ 3,800, returns are $ 850, cash discount terms are 3/15 n 45. paid in discount period. Sales discount? ______________________. Remit ? _____________________.
- If a note provides for payment of principal of $85,000 and interest at the rate of 6%, will the interest amount to $5,100? Explain.Answer the following questions. (Round interest rate to 0 decimal places, e.g. 7%.)(1) If the note has been outstanding 3 months, what is the annual interest rate on that note? Interest Expense: $511 Notes Payable: $4,700Please calculate the interest on a $10,000, 120-day, 12 percent note. Once you have determined the interest amount, briefly explain what it means. When does the interest get recorded?
- Compute the maturity value for each of the following notes: Required: 1. A note payable with a face amount of $31,000, dated June 15, 20X1, due in three months, bearing interest at 4 percent. 2. A note payable with a face amount of $25,000, dated May 5, 20X1, due in 30 days, bearing interest at 6 percent. Complete this question by entering your answers in the tabs below. Required 1 Required 2 A note payable with a face amount of $31,000, dated June 15, 20X1, due in three months, bearing interest at 4 percent. (Round your "Interest rate" answer to two decimal places. i.e., 1% should be entered as 0.01.) Fraction of Principal x Interest Rate x Interest Year Maturity Value1.Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $50,000 7 3 4 6 months $3. What is the simple interest to the nearest cent on a credit card balance of $1,150.00 at 11% interest for 3 months?