Q: i need help working out these problems. Can you please explain in detail? Warren Ford borrowed…
A: Face value is $15,600 Bank discount rate is 4.50% Time period is 60 days
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A: We can calculate interest rate by using simple interest formula Simple interest =Principal*Rate*Time
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A: I = P x R x T P = Principal amount R = Rate = 6% T = Period
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A: Borrowed amount = P150,000 Time period = 2 years Rate = 6%
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A: Calculation of interest amount for 10 months at the rate 3.6% per annum [$3700 ×( 3.6÷100)]×10÷12 =…
Q: Edgar borrowed $8200 on a 220-day note that required ordinary interest at 10.4%. Edgar paid $3000 on…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want a…
Q: If Xavier borrowed $3400 form a bank at simple interest rate of 4.5% for one year. How much interest…
A: Simple interest is interest calculated on the principal portion of a loan or the original…
Q: Engr. De Robles borrowed Php 10,000 from a bank and promised to pay the amount for 1 year. But he…
A: Proceeds = Php 9600 Discount = Php 400 Borrowed amount (P) = Php 10000 n = 1 year Let the discount…
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A: Since this is an ordinary interest, we need to use 360 days in a year. Interest saved can be…
Q: Mr. Tan borrowed ₱15,000 from the faculty fund at 13.25% simple interest for 210 days.How much would…
A: Simple Interest = Principal * Rate * time
Raul Fletes borrowed
on a
note that required ordinary interest at
Raul paid
on the note on the
day. How much interest did he save by making the partial payment?
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- Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of 150,000. A. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. B. Determine the proceeds of the note, assuming the note is discounted at 10%.Comet Lee borrowed $16,000 on a 6%, 90-day note. After 20 days, Comet paid $2,000 on the note. On day 50, Comet paid $4,000 on the note. What are the total interest and ending balance due by the U.S. Rule? Use ordinary interest. (Use 360 days. Do not round the denominator in your calculation and round your final answers to the nearest cent.) Total Interest Ending Balance DueAniya borrowed 82,000 0n a 120-day 4% Note. after 50 days, Aniya made an initial payment of 40,000. On day 90, Aniya made an additional payment of 25,000. Assuming the U.S rule , what is the adjusted balance after the second payment? Use exact days.
- Ife deposits $200 in an account paying a nominal interest rate 9.800% compounded quarterly. Muhammad deposits $400 in an account paying a nominal interest rate i(52) After 16 years they have the same amount in their accounts. What is i(52)?Max Wholesaler borrowed $3,000 on a 8%, 120-day note. After 45 days, Max paid $1,050 on the note. Thirty days later, Max paid an additional $900. Use ordinary interest. a. Determine the total interest using the U.S. Rule. b. Determine the ending balance due using the U.S. Rule.Shawn Bixby borrowed $17,000 on a 120-day, 12% note. After 65 days, Shawn paid $2,000 on the note. On day 89, Shawn paid an additional $4,000. Use ordinary interest. Determine the total interest use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Determine the ending balance due use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent.
- 7. Qiang invests RM255 every month in an account that pays 6.75% interest compounded monthly. Find the amount in the account after 60 months. No use excel (RM18138.54)Max Wholesaler borrowed $2,000 on a 10%, 120-day note. After 45 days, Max paid $700 on the note. Thirty days later, Max paid an additional $630. What is the final balance due? use th U.S rule to determine the total interest and ending balance due. use ordinary interest.EX.06.144 On April 7, Wilhelm, Inc. sold goods for $50,000 and accepted a 10%, 60-day note. On April 22, the company sold the note to a bank at a 13% discount rate. Required:Compute the amount of interest revenue and the loss on sale of the note. Assume a 360-day year. Round your answers to two decimal places. Interest revenue $ Loss on sale of note $
- Jim Murphy borrowed $30,000 on a 120-day 14% note. Jim paid $5,000 toward the note on day 95. On day 105 he paid an additional $6,000. Using the U.S. Rule, Jim's adjusted balance after the first payment is: Multiple Choice $25,000 $28,891.67 $1,108.33JP just made a deposit of $4,321 is made today in an account earning 5.3% APR compounded annually. What is the future value of JP's deposit in 15 years? Enter answer in dollars, rounded to the nearest dollar.1. Sol Sib borrowed P14,000 for 10 months from a rural bank. The banker discounts the note at 8%, Find the discount and the proceeds.
