If a note provides for payment of principal of $85,000 and interest at the rate of 6%, will the interest amount to $5,100? Explain.
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If a note provides for payment of principal of $85,000 and interest at the rate of 6%, will the interest amount to $5,100? Explain.
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- For a two note payable of $10,000 at 6% interest, what is the total amount paid back?The interest charged on a $222000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $3330. $1110. $13320. $6660.The amount of simple interest on a deposit varies jointly with the principal and the time in days. If $17.85 is earned on a deposit of $3500 for 12 days, how much interest would be earned on a deposit of $3700 for 20 days? ... The deposit would earn S in interest. (Simplify your answer. Round to the nearest cent as needed.)
- Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $ 11 1 1//2 years $495What is the entry: someone lend money to my company $10,000 cash in exchange for a two-year, 6% note payable. Interest and the principal are repayable at maturity.Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days. Principal Rate (%) Time Interest 12 1- years $1,080 Need Help? Read It