Determine the number of months (rounded off to the nearest month) required for a deposit of $2968.84 to earn a $216.72 interest at 7.57%.
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Determine the number of months (rounded off to the nearest month) required for a deposit of $2968.84 to earn a $216.72 interest at 7.57%.
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Jain 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?Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms of the note show a maturity date of 36 months, and an annual interest rate of 8%. What is the accumulated interest entry if 9 months have passed since note establishment?
- A company collects an honored note with a maturity date of 24 months from establishment, a 10% interest rate, and an initial loan amount of $30,000. Which accounts are used to record collection of the honored note at maturity date? A. Interest Revenue, Interest Expense, Cash B. Interest Receivable, Cash, Notes Receivable C. Interest Revenue, Interest Receivable, Cash, Notes Receivable D. Notes Receivable, Interest Revenue, Cash, Interest ExpenseWhat is the future value on December 31, Year 5, of a deposit of $10,000 made on January 1, Year 2, assuming interest of 16% compounded quarterly?Determine the simple interest and the accumulated amount on ₱4,000.00 deposited in a bank at a rate of 8% per annum for 11 months and 15 days. *
- What is the number of months required for a deposit of $1320 to earn $16.50 interest at 3.75%?If a deposit of $100 is made on the first day of each month into an account that pays 6% interest per year compounded monthly, determine the amount in the account after 18 years.What is the future value on December 31, Year 5, of a deposit of $25,000 made on January 1, Year 2, assuming interest of 12% compounded semiannually?
- You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years. What is the gross amount actually placed in the account?Assume an individual is wanting to determine the monthly deposits if after 1 year based on monthly deposits, the account now has $12,336.42 at 6% continuous compounding. Determine the monthly deposit. $900 $1,000 $1100 $1200A person pays an amount at the beginning of each month and then withdraws half of it in the middle of the month, and his balance at the end of the year is 513.6 dinars, knowing that the interest rate approved for withdrawal and deposit is 12% annually, so the amount that is deposited and withdrawn is??A- 30,60 dinarsB - 90, 45 dinarsC- 80, 40 dinarsD- 100, 50 dinars
