Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with these simple interest questions. Determine the amount of interest on a 90-day note for $437.00 with interest at 6.19% per annum.

image text in transcribed

I need help with these simple interest questions.

image text in transcribedimage text in transcribedimage text in transcribed
Determine the amount of interest on a 90-day note for $437.00 with interest at 6.19% per annum. Ignore any grace period. The amount of interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Find the present value, on the date indicated, of the following promissory note. Ignore any grace period. A non-interest-bearing note for $600.00 issued August 20, 2010, for 153 days if money is worth 7.9%, on October 30, 2010. The value on October 30, 2010 is $ -| (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)The maturity value of a seven-month promissory note issued July 31, 2017, is $3275. What is the present value of the note of the date of issue if interest is 7.75%? Ignore any grace period. The present value is $]. (Round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance Services

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

6th edition

978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343

Students also viewed these Accounting questions