During the current year, your company lent $46,062 at 5.9% for 8 months. Calculate the total...

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During the current year, your company lent $46,062 at 5.9% for 8 months. Calculate the total...

During the current year, your company lent $46,062 at 5.9% for 8 months. Calculate the total interest that your company will receive on this note. (round to the nearest dollar and do not enter dollar sign or comma. e.g. Enter $5,421.42 as 5421)

business accounting

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Answer 1

Answer #1

The Company will receive Interest amount =

(Principal amount x Rate of Interest/100) x Month/12

= (46062 X 5.9/100) X 8/12 = 1812

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Answer 2

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