Homework Answers
The Answer is Interest = $ 46.47
Calculation:
Interest = $ 1240 * 6% *228 Days / 365 Days = $ 46.47
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Compute the amount of interest on $1240 borrowed at 6% per annum from Sept. 30, 2016...
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If you borrowed P1000 from a bank with 18% simple interest per annum, what is the total amount to be repaid at the end of 5 years, 6 months and 84 days? with solution
Borrowing of RM72,000 was made on 1 January 2016 for a payback period of 6 years. Interest charged was 4% per annum on borrowed amount.??
The following is the trial balance of the business on 30 June 2019. Trial Balance as at 30 June 2019 Debit (RM)Credit (RM)Premise244,600Motor Vehicle112,000Furniture & Fittings60,000Office Equipment3,800Bank27,360Cash4,140Trade Receivables22,250Trade Payables25,243Fixed Deposit 6%20,000Stationeries1,438Salary22,600Bad Debt1,000Utilities Expenses5,460Insurance Expenses8,000Carriage Inward2,465Commission3,450Purchases338,343Sales645,989Inventory as at 1 July 201818,340Capital120,000Loan 4%36,000Interest on Loan2,880 Discount2,5504,556Provision for doubtful debt428Return200Accumulated depreciation: Motor Vehicle40,600Accumulated depreciation: Furniture & Fittings20,000Accumulated depreciation: Office Equipment 760897,226897,226Additional information: Inventory value at 30 June 2019Cost ValueMarket Value RM16,882RM28,155Insurance of RM1,600 was paid for the month of July and...
1-Automotive Excellence Inc. borrowed $16.000.00 on May 26 with an interest rate of 4,5% per annum....
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A company has borrowed 1,000,000 from a bank which charges 14 % interest per annum. The...
A company has
borrowed 1,000,000 from a bank which charges 14 % interest per
annum. The loan has to be recovered in 5 years compounded
annually
(a) How much
should the company pay at the end of each year to the bank
(assuming uniform payment)?
(b) The bank
changes the interest rate to 13 % p.a . at the beginning of 3rd
year
(i) What will
the amount of the company's last payment (i.e. payment at the end
of year...
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On April 1, 2017, Mendoza Company borrowed 500,000 euros for one year at an interest rate of 5 percent per annum. Mendo...
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A company has
borrowed 1,000,000 from a bank which charges 14 % interest per
annum. The loan has to be recovered in 5 years compounded
annually
(a) How much
should the company pay at the end of each year to the bank
(assuming uniform payment)?
(b) The bank
changes the interest rate to 13 % p.a . at the beginning of 3rd
year
(i) What will
the amount of the company's last payment (i.e. payment at the end
of year...
1. Calculate the amount of interest that will be charged on $7000.00 borrowed for five months at 5.5%. 2. Compute the amount of interest on $875.00 at 11.5% pa from May 29, 2013 to August 13, 2013, 3. Determine the deposit that must be made to earn $85 in 7 months at 10.5%. La 16 A12 Daha 7
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