answer in text with all working explanation steps correctly for each part and step Compute interest and find the maturity date for the following notes. (Round answers to O decimal places, e.g. 825. Use 360 days for calculationDate of NotePrincipalInterest Rate (%)Terms(a)June 10$82,8007%60 days(b)July 14$50,3008%90 days(c)April 27$13,1209%75 daysInterestMaturity Date(a)$August 9(b$October 12(c)$July 11

Answers: Answer (a) To compute the interest, we can use the formula: Interest = Principal * Interest…

Answered: Compute interest and find the maturity…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Interest ETE Note Principal Rate (%) Terms (a) (b) June 10 $81,610 7% 60 days July 14 April 27 90 days 75 days $45,500 8% (c) $13,100 9% Interest Maturity Date (a) (b) (c)
Presented below are data on three promissory notes.Determine the missing amounts. (Round answers for Total Interest to 0 decimal places, e.g. 825. Round annual interest rate to 0 decimal places, e.g. 15%.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest (a) April 1 60 days $605,200 11 % $enter total interest in dollars for promissory note A rounded to 0 decimal places (b) July 2 30 days 94,530 enter an annual interest rate for promissory note B rounded to 0 decimal places % $630 (c) March 7 6 months 112,550 11 % $enter total interest in dollars for promissory note C rounded to 0 decimal places
Compute interest and find the maturity date for the following notes. (Round intermediate calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275. Use 360 days for calculation.) (a) (b) (c) Date of Note June 10 July 14 April 27 Principal $90,000 $64,800 $43,200 Interest Rate (%) 6% 7% 8% Terms 60 days 90 days 75 days $ $ LA Interest IN Maturity Date 4
Compute the maturity date and interest for the following notes.( use 360 days for calculation) Dates of notes Terms Principal Interest Rate a. April 17 45 days 48,000 3% b. August 11 2 months 72,000. 7% Maturity date. Interest a. ? $? b. ? $?
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Presented below are the data on three promissory notes. Determine the missing amounts (round answers to 0 decimal places, e.g. 125 Assume length of year = 360 days.)Date ofNote Terms Maturity Principal Annual Interest Total Interest Date RateApril 1 60 days ? $605,200 11% ? July 2 30 days ? 94,530 ? $630March 7 6 months ? 112,550 11% ?
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