(d) BB&T offers an account with 5.69 % interest compounded quarterly. APY = Number (e) Navy Federal offers an account with 5.67 % interest compounded semi-annually. APY = Number
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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each interest payment will be ________. A. $120,000 B. $60,000 C. $7,500 D. $15,000Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)
- Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?Everglades Consultants takes out a loan in the amount of $375,000 on April 1. The terms of the loan include a repayment of principal in eight, equal installments, paid annually from the April 1 date. The annual interest rate on the loan is 5%, recognized on December 31. (Round answers to the nearest cent, if needed.) A. Compute the interest recognized as of December 31 in year 1. B. Compute the principal due in year 1.XTZ Company took a loan from the bank for 10 years, and compounded quarterly interest of 8.7 per cent is charged, Repayment of the loan has been done by equal installment quarterly which are 470 each. What is the the loan amount that is taken?
- Please do not use excel format in computation A debt of P25,000 was repaid in ten equal quarterly payments. If the rate of interest was 7% compounded quarterly, what was the size of each payment?The sum of P15, 000.00, deposited in an account earning 4% per annum compounded quarterly, will become P18, 302.85. Determine the effective rate of interest per year.Identify the compounding period for the following interest statements: (a) 3% per year; (b) 10% per year compounded quarterly; (c) nominal 7.2% per year compounded daily; (d) effective 3.4% per quarter compounded continuously; and (e) 0.012% per day compounded hourly.
- Assume the following annual payments of notes payable of Demi Company with 10% discount rate. 1st Year - P300,0002nd Year - P200,000 3rd Year - P400,000 What is the present value of the annual payments?A three-year bank CD paying 7.02 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.)A debt of $36,000 is repaid over 10 years with payments occurring quarterly. Interest is 8% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 27? (c) What is the interest paid on payment 28? (d) How much principal is repaid in payment 28?
