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TASK 20 Friday, March 14. Prepare a deposit slip. Cash: $3,211.00; checks: $5,211.80; $299.55 (from Ben Jago, Task 19); $8,786.00; $22.88; and $2,855.43. Enter the
TASK 20 Friday, March 14. Prepare a deposit slip. Cash: $3,211.00; checks: $5,211.80; $299.55 (from Ben Jago, Task 19); $8,786.00; $22.88; and $2,855.43. Enter the total amount on check stub #1320. TASK 21 Monday, March 17. The company borrowed $30,000 on January 25 for 60 days at 7.5% simple interest, because it is a business loan, the lender uses a 360-day year. Determine the maturity value (assume this is not a leap year). Maturity Value TASK 22 Monday, March 17. Refer to Task 21. Because the company has some extra money, it has been decided to make a $15,000 payment. Write check #1320 to Interstate Bank. Then, calculate the balance after the payment. Write the amount of interest, principal, and remaining balance on the left part of the check stub. Balance after Payment TASK 23 Tuesday, March 18. The company has a 7.75% mortgage loan on the property and is thinking about refinancing. The company can borrow $190,000 over 15 years at 6.5%. Determine the monthly payment using the method explained in either: Unit 11.3, Unit 13.3, Appendix E (Excel), or the online calculator found on www.webbertext.com. Monthly Payment Case Study - Page 8 TASK 20 Friday, March 14. Prepare a deposit slip. Cash: $3,211.00; checks: $5,211.80; $299.55 (from Ben Jago, Task 19); $8,786.00; $22.88; and $2,855.43. Enter the total amount on check stub #1320. TASK 21 Monday, March 17. The company borrowed $30,000 on January 25 for 60 days at 7.5% simple interest, because it is a business loan, the lender uses a 360-day year. Determine the maturity value (assume this is not a leap year). Maturity Value TASK 22 Monday, March 17. Refer to Task 21. Because the company has some extra money, it has been decided to make a $15,000 payment. Write check #1320 to Interstate Bank. Then, calculate the balance after the payment. Write the amount of interest, principal, and remaining balance on the left part of the check stub. Balance after Payment TASK 23 Tuesday, March 18. The company has a 7.75% mortgage loan on the property and is thinking about refinancing. The company can borrow $190,000 over 15 years at 6.5%. Determine the monthly payment using the method explained in either: Unit 11.3, Unit 13.3, Appendix E (Excel), or the online calculator found on www.webbertext.com. Monthly Payment Case Study - Page 8
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