Use ordinary interest: Principal $9,000 Interest Rate 11% Date Borrowed Apr. 20 date repaid Aug. ...
Use ordinary interest: Principal $9,000 Interest Rate 11% Date Borrowed Apr. 20 date repaid Aug. 8.
Looking for Time, Simple Interest, and Amount Paid Back
Homework Answers
Answer:
Principal Amount = $9,000
Interest Rate = 11%
Time = 10 days of April + 31 days of May + 30 days of June + 31
days of July + 8 days of August
Time = 110 days
Interest = Principal Amount * Time * Interest rate
Interest = $9,000 * 110/365 * 11%
Interest = $298.36
Amount Paid back = Principal Amount + Interest
Amount Paid back = $9,000 + $298.36
Amount Paid Back = $9,298.36
Add Answer to:
Use ordinary interest: Principal $9,000 Interest Rate 11% Date Borrowed Apr. 20 date repaid Aug. ...
Use ordinary interest: (Round your answer to the nearest cent.) Interest Date Date Principal Rate Borrowed...
Use ordinary interest: (Round your answer to the nearest cent.) Interest Date Date Principal Rate Borrowed Repaid $9,000 11% Apr. 20 Aug. 8 A Time Simple Interest B Amount Paid Back days
Use ordinary interest: Principal $70,000 Rate of Interest: 11% Time: 90 days Maturity Value: A Date note made Mar 10 Date note discounted: April 15 discount period: B proceeds: C note to be discounted at 10%
Use ordinary interest: Principal $70,000 Rate of Interest: 11% Time: 90 days Maturity Value: A Date note made Mar 10 Date note discounted: April 15 discount period: B proceeds: C note to be discounted at 10%
Please show work :) Complete the following using ordinary interest. (Use Days in a year table.)...
Please show work :)
Complete the following using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value to the nearest cent.) Exact time Interest Maturity value Principal Interest rate $ 585 9% Date borrowed June 05 Date repaid Dec 15
3 points rate 0.095 Pay Pay Amount Interest Due Interest Amount Principal Repaid Principal Repaid Amount...
3 points rate 0.095 Pay Pay Amount Interest Due Interest Amount Principal Repaid Principal Repaid Amount Outstanding Bilance L=0B, TUT 000 Outstanding Balance Amount 3400 10% P1 = 600 PR1 = OB, 3123 P2= P3 P4= 500 280 3194.18 4574.18 13= PR2= PR3 PR4= 277.37 277.12 1174.18 OB, OB, OB4 = 2.63 2917.06 3400.00 14 2919.685 2917.06 0.00 TOTAL A loan of amount $ 3400.00 taken today at an annual rate of 9.5% compounded annually is repaid back by amortization...
principal: $60,000 interest rate: 12% time (in days using ordinary interest): simple interest: $3600 what is...
principal: $60,000 interest rate: 12% time (in days using ordinary interest): simple interest: $3600 what is the time in days using ordinary interest?
14. United Sales Association (USA) recently borrowed $25,000 from its bank at a simple interest rate...
14. United Sales Association (USA) recently borrowed $25,000 from its bank at a simple interest rate of 11 percent. The loan is for one year, and the loan agreement calls for the interest to be added to the amount borrowed and the total amount to be repaid in monthly installments. (a) What are the loan’s monthly payments? (b) Compute the loan’s APR and, rEAR.
3. A company borrowed $13,000 paying interest at 8% compounded quarterly. If the loan is repaid...
3. A company borrowed $13,000 paying interest at 8% compounded quarterly. If the loan is repaid by payments of $1800 made at the end of each 3 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Outstanding Number Amount Paid Interest Paid Principal Repaid Principal...
A company borrowed $15,000 paying interest at 3% compounded quarterly. If the loan is repaid by...
A company borrowed $15,000 paying interest at 3% compounded quarterly. If the loan is repaid by payments of $1700 made at the end of each 3 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Amount Paid Interest Paid Principal Repaid Outstanding Principal 8...
Calculate the value of x. Interest Amount Principal / Present Value Interest Rate (per year) Time...
Calculate the value of x. Interest Amount Principal / Present Value Interest Rate (per year) Time $2009 7.34% 12 months х Answer: Calculate the value of x. Maturity / Future Value Principal / Present Value Interest Rate (per year) Time $3308 10.13% 121 days Answer: Five months ago, Sarah borrowed $1100 from Joe. When she borrowed the money, they agreed she would pay 5% p.a. in simple interest. Sarah pays Joe back today. What is the principal amount? Select one:...
Che Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchase...
Che Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9% , $ 35 ,000 note payable along with paying $1,e00 in cash. July 8 Borrowed $57,e00 cash from NBR Bank by signing a 120-day, 11%, $57,eee note payable. Paid the amount due on the note to Locust at the maturity date....
Use ordinary interest: (Round your answer to the nearest cent.) Interest Date Date Principal Rate Borrowed Repaid $9,000 11% Apr. 20 Aug. 8 A Time Simple Interest B Amount Paid Back days
Please show work :)
Complete the following using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value to the nearest cent.) Exact time Interest Maturity value Principal Interest rate $ 585 9% Date borrowed June 05 Date repaid Dec 15
3 points rate 0.095 Pay Pay Amount Interest Due Interest Amount Principal Repaid Principal Repaid Amount Outstanding Bilance L=0B, TUT 000 Outstanding Balance Amount 3400 10% P1 = 600 PR1 = OB, 3123 P2= P3 P4= 500 280 3194.18 4574.18 13= PR2= PR3 PR4= 277.37 277.12 1174.18 OB, OB, OB4 = 2.63 2917.06 3400.00 14 2919.685 2917.06 0.00 TOTAL A loan of amount $ 3400.00 taken today at an annual rate of 9.5% compounded annually is repaid back by amortization...
3. A company borrowed $13,000 paying interest at 8% compounded quarterly. If the loan is repaid by payments of $1800 made at the end of each 3 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Outstanding Number Amount Paid Interest Paid Principal Repaid Principal...
Calculate the value of x. Interest Amount Principal / Present Value Interest Rate (per year) Time $2009 7.34% 12 months х Answer: Calculate the value of x. Maturity / Future Value Principal / Present Value Interest Rate (per year) Time $3308 10.13% 121 days Answer: Five months ago, Sarah borrowed $1100 from Joe. When she borrowed the money, they agreed she would pay 5% p.a. in simple interest. Sarah pays Joe back today. What is the principal amount? Select one:...
Che Tyrell Co. entered into the following transactions involving short-term liabilities. Year 1 Apr. 20 Purchased $36,000 of merchandise on credit from Locust, terms n/30. May 19 Replaced the April 20 account payable to Locust with a 90-day, 9% , $ 35 ,000 note payable along with paying $1,e00 in cash. July 8 Borrowed $57,e00 cash from NBR Bank by signing a 120-day, 11%, $57,eee note payable. Paid the amount due on the note to Locust at the maturity date....
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