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Determine the interest on the following notes. Use 360 days in the denominator to figure out the ones listed in days. Round to the nearest
Determine the interest on the following notes. Use 360 days in the denominator to figure out the ones listed in days. Round to the nearest dollar if appropriate. Do not include a dollar sign in your answer. $2,000 at 6% for 90 days. (a) $900 at 9% for 5 months (b) $3,000 at 8% for 60 days. (c) $1,600 at 7% for 6 months. (d) Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X) 1) Computer installation cost 2) Driveway cost 3) Architect's fee 4) Closing costs on purchase of land 5) Cost of lighting for parking lot 6) Insurance while in transit and freight on computer purchased 7) Material and labor costs incurred to construct building 8) Cost of tearing down a warehouse on land just purchased 9) Utility cost during first year
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