Homework Answers
Answers-
|
December 31 |
$ 11700 |
|
September 30 |
$5850 |
Working
|
Value of Note |
$ 1,80,000.00 |
|
Interest Rate |
13% Per annum |
|
Annual interest |
$ 23,400.00 |
|
Interest for 8 Months (23400/12 x 8) |
$ 15,600.00 |
|
Months ended till December |
6 |
|
Interest Expense till December (15600/8 x 6) |
$ 11,700.00 |
|
Interest Expense till December (15600/8 x 3) |
$ 5,850.00 |
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