$2000 is deposited on March 1 and $1000 on April 1 in a bank that pays 4% interest. What is the total amount in the bank on June 1? What is the interest earned? use months
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$2000 is deposited on March 1 and $1000 on April 1 in a bank that pays 4% interest. What is the total amount in the bank on June 1? What is the interest earned? use months
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- 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 ExpenseA 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. $2,383Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note 45 days Date note discounted Discount period September 11 October 5 days
- You deposit 500 in an account on January 1, 2003. Interest is credited each year on December 31, at a rate of 4% on the first 1000 in the account on January 1 of that year and 5% of any excess over 1000. Just after interest is credited on December 31, 2032, X is in the account. Calculate X.The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $3000 at 5.7% compounded quarterly for 5 years. What is the compound amount?The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $2500 at 6% compounded daily for 2 years. What is the compound amount? (Round to the nearest cent.)
- Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): date of note length of note date note discounted discount period (days) july 14th 50 days august 5 ?Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note Date note discounted Discount period March 07 120 days June 08 daysDetermine the interest rate earned on a $450 deposit when $475 is paid back in one year.
- A bank charges 1 ½% per month on the unpaid balance for purchases made with its credit card. This is equivalent to what effective annual interest rate?Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note Date note discounted Discount period April 12 45 days May 02 daysAccounting question: If you are doing a balance sheet with notes payable of 96,600. Assuming 13,600 of the note payable will be paid the following year. Where are how do you enter it. Long Term Liability?
