Determine the maturity date of the loan (not in a leap-year). Loan Date Time of Loan (days) Maturity Date February 8 110 June 1

Q: what is the amount (in $) of interest on the loan?

A: Simple interest are calculated on the basis of principal amount of loan. Simple interest does not…

Q: What is the due date of a 220-day loan made on Feb. 12? Group of answer choices Sep 20 Sep 21 Aug…

A: Given that  Starting date of loan = 12th Feb  When counting a time period, both the start date and…

Q: Find the maturity value FV of the given loan amount. (Round your answer to the nearest cent.)…

A: Future value = Present value ( 1 +Rate of interest )number of years

Q: On January 23 of a non-leap year, a loan is taken out for $15,230 at 8.8% simple interest. What is…

A: Simple interest can be calculated by using this formula Simple interest =Principal*Rate*Time

Q: Central Auto Parts borrowed $450,000 at 9% interest on July 13 for 120 days. (a) If the bank uses…

A: When it is required to compute the interest due for a fraction of one year, it is often the practice…

Q: What is the journal entry to record (for both the debtor and creditor) for refinancing a loan for…

A: Entries in the books of Debtor:

Q: A partial payment is made on the date indicated. Use the United States rule to determine the balance…

A: A written promissory note through which a borrower promises to pay off the borrowed amount at the…

Q: Find the maturity value of the given loan amount. $2,234 borrowed at 12⅛% from March 10 through…

A: Future Value: The future value is value of present amount compounded at an interest rate until a…

Q: Determine the number of days from Actual Time to Approximate Time Loan date - July 31, 2021 Due…

A: Actual days are the number of actual days in a month e.g. April - 30 days, may - 31 days.…

Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…

A: Payments Remaining = Total payments - Payments Made Sum of digits is to be calculated by n(n+1) /2

Q: Determine the due date and the amount of interest due at maturity on the following notes: Date of…

A: Interest = Face amount x Interest rate x (Term of note / 360)

Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…

A: Number of payments = 18 Payments made = 3

Q: The term of the note stated maker as a fraction of a year. The principal of the note plus interest.…

A: Introduction: Interest amount: Interest amount is calculated on Principal amount with interest rate.

Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…

A: In the given question we need to compute the time (in days) for the loan from given details :…

Q: Determine the number of days from Actual time to Approximate Time Loan Date- Feb. 5, 2021 End…

A: In actual time, actual days in a month are considered. In approximate time, every month's days are…

Q: The following loan is paid in full before the date of maturity. Find the amount of uneaned interest.…

A: There are various method which can be used to compute the interest charged on a loan. Rule 78 is one…

Q: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an…

A: Formula: Interest amount = Loan amount x Interest rate x Time period

Q: Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at…

A: Formula: Interest Amount = Principal amount x Interest rate x ( number of days of note / 360 days )…

Q: A bank charges 11% simple interest in advance (that is 11% bank discount) on short-term loans. Find…

A: Given, Simple Interest = 11% Bank Charges 11% on GHC 900 for 90 days Banks Charges 11% on GHC 1500…

Q: Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of…

A: Formula: Interest amount = Principal amount x interest rate. Multiplication of Principal amount with…

Q: Determine the due date and amount of interest due at maturity on the following notes Origination…

A: If there are 360 days per year:Interest = $8,000*9%*60/360 = $120   If there are 365 days per…

Q: A partial payment is made on the date indicated. Use the United States rule to determine the balance…

A: Given, Principal  = $4000 Int rate(r) = 4% Effective date April1 Partial payment date may1 Maturity…

Q: Find the amount (in $) of interest on the loan.

A: Interest: It refers to the monetary charge paid by the borrower to the lender for taking a loan. It…

Q: Use the actuarial method to find the payoff amount for the loan paid in full before its due date.…

A: The method which is derived for calculating the amount of allocation between the principal amount…

Q: Determine the due date and the amount of interest due at maturity on the following notes:   Date…

A: Amount of interest due at maturity = Notes face value x rate of interest x no. of days / 365 days

Q: Apply the United States rule to determine the balance at maturity and the total interest paid if the…

A: As per the United States rule, the partial payment made against a loan is first adjusted against the…

Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 7? The amount…

A: Loan amount = $ 6,000 Interest rate = 15% Interest amount = $ 180 Loan date = June 7

Q: what is the due date for a loan dated Nov 7 for 120 days?

A: Due date is the date on which the loan will mature.  Loan is taken on November 7 for 120 days.

Q: A bank charges a simple discount  at 11% interest rate on short term loans. Find the sum received by…

A: Answer

Q: Find the maturity date, maturity value and proceeds of the below promissory note: Face Date Term…

A: A promissory note is a legal promise by one party to another party to pay a specific amount after a…

Q: Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days.…

A: INTEREST = PTR / 100 INTEREST = $1,575 P = PRINCIPAL T = 0.5 YEARS OR 6 MONTHS R = 9%

Q: Find the simple interest on a loan if $5,682.00 was borrowed at 11 3⁄4 % from July 1 through…

A: As the date of loan is from July 1 through December 31, tenure of the loan will be 6 months. Annual…

Q: What is the maturity date of a loan for $6,000 at 15% exact interest taken out on June 6? The amount…

A: Simple Interest = Principal × Rate × Time $180 = $6,000 × 15% × Time Time = ($6,000 × 15%) / $180…

Q: . Interest has not yet been recorded on the notes payable which was taken out on March 1, 2020 with…

A: Please check the step 2 below:-

Q: loan from Bank B. What is the amount of loan to be paid back to Bank A? Prepare a bank amortization…

A: Simple interest is defined as Interest that is calculated as a simple percentage of the original…

Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…

A: Number of payments = 36 Payments made = 25

Q: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an…

A: The process of creating financial statements to indicate an entity's financial condition is known as…

Q: Compute the principal (in $) for the loan. Use ordinary interest when time is stated in days.…

A:

Q: What is the maturity date of a loan for $9,000 at 15% exact interest taken out on June 4? The amount…

A: Given: Principal amount =$9000Interest rate =15% Loan taken on June 4 Interest on loan per annum…

Q: Determine the maturity date for the following note. Consider leap years as necessary. Date of Note…

A: In July 22 days. August 31 days September 30 days October 31 days November 30 days December 31 days…

Q: A partial payment is made on the date indicated. Use the United States rule to determine the balance…

A: Here, Principal Amount is $4,000 Interest Rate is 5% Effective Date is April 1 Partial Payment made…

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) Time Interest $70,000 8…

A: Interest Amount = Principal * Interest rate * Number of months / 12

Q: What is the amount of interest revenue that must be accrued on December 31st for a nine-month, 6%,…

A: Note receivable $ 2000. Interest 6% Accapted on 1st November

Q: How much was the amount of the original loan? Regular Payment Rate of Compound Interest per Year…

A: Regular Payment amount is $1575 payable semi annually Rate of interest is 5.4% compounded…

Q: Calculate the missing information for the installment loan that is being paid off early. Sum-of-the-…

A: Loan is a value or amount which is borrowed from other sources like banks and repay it later with…

Q: Determine the maturity date of the loan. Loan Date Time of Loan (days) Maturity Date July 8 220…

A: Maturity Date = Initial Date + Term of loan

Q: what was the outstanding principle balance on the loan during the period?

A: Given that,  Interest amount = $124.83 Rate of interest = 8.25%

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.