Goose Limited took out a loan for £4 million on 1st December 2018. If the interest rate is 3% per annum, how much interest would be due on 30th June 2019?
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Goose Limited took out a loan for £4 million on 1st December 2018. If the interest rate is 3% per annum, how much interest would be due on 30th June 2019?
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- A 5% loan note was issued on 1st April 2020 at its face value of £40 million. Direct costs of the issue were £2,000,000. The loan note will be redeemed on 31st March 2023 at a substantial premium. The effective interest rate applicable is 10% per annum. At what amount will the loan note appear in the statement of financial position as at 31st March 2022 ? A. £39,800 B. £41, 780 C. £39,780 D. £43, 780What sum of money will be required will be required to discharge a loan of P7,800 on April 1.2020, if the loan is made on October 1, 2011 at a rate of 9% compounded quarterly?On 1 January 2017, a company which prepares financial statement to 30 June each year buys € 400,000 of 5% loan notes for € 411,225. Interest will be received half-yearly on 30 June and 31 December and the loan notes will be repaid at a premium of 10% on 31 December 2020. The effective rate of interest is 3.5% per half year and the company intends to hold this investment until maturity. Calculate the amount of interest income that should be recognised in the company's financial statements for each of the years to 30 June 2017, 2018, 2019. Also calculate the amount at which the loan notes should be shown in the statement
- A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018 at 14% converted semi-annually? P15,257.90 P33,500.39 P 28, 600.21 P36,548,19 Find the amount of an ordinary annuity of 20 semi-annual payments of P1, 000 if interest rate is 12% compounded semi-annually. P15,257.90 P33,567.21 P 38, 678.15 P36,785.59On 1/1/2017, a loan of RM80,000 was taken and has to be repaid in level payment at the end of each month for 10 years. (i) Calculate the level monthly payment using an effective rate of interest of 8% per annum.On 1/11/2019, immediately after the payment, the monthly payment is reduced to RM910 and the remaining term is extended to clear the outstanding loan balance. The final smaller payment is to be paid one month after the last regular monthly payment. In addition, a service charge of RM955 is added to the loan outstanding on 1/11/ 2019 and the interest rate applied in future is increased to 9% per annum convertible monthly. (ii) Determine the new date on which the loan will be repaid.The effective rate of interest is 5% per annum during the calendar years 2016 and 2017, and it is 9% per annum during the calendar years 2018 and 2019. Calculate the accumulation on 1 January 2019 of a payment of £252 paid on 1 January 2016.
- If you borrow $1000.00 on May 1, 2019, at 10% compounded semi - annually, and interest on the loan amounts to $154.87, on what date is the loan due? The due date is (Round down to the nearest day.)An investor borrows £150,000 on the 1st of January 2017. The capital will be repaid after 25 years while interest on the loan is paid annually in arrears at a rate of 5% p.a. effective. The same investor receives an income from a property rental. The rent amounts to £800 payable monthly in advance (i.e. at the start of each month) and it is deposited in a savings account that pays interest at 3% p.a. effective. (a)Without using lengthy calculations explain why the rent is sufficient to cover the annual interest repayment on the loan. (b) Compute the total amount of annual savings at the end of each year accounting for the rent income net of the interest repayment on the loan. (c) Find the minimal additional amount X that the investor needs to pay every year into the savings account in order to repay the capital on 1st January 2042. Assume such payments are made in arrears.Suicune Bank granted a P5,000,000 loan to Raikou Company on January 1, 2020. The annual interest on the loan is 8% payable semi-annually. The loan matures in three years on December 31, 2022. The effective interest rate on the loan is 6%. How much is the carrying amount of the loan as of December 31, 2020?
- On August 1, 2020, PHINEAS Company borrowed P9,000,000 from a lender, which is to be paid on January 28, 2021. The interest is 8% per annum. How much is the interest expense for 2020?What lump-sum amount of interest will be paid on a $10,000 loan that was made on August 1, 2012, and repaid on November 1, 2016, with ordinary simple interest at 10% per year?A debt of $5487.81 is due August 1, 2025. What is the value of the obligation on February 1, 2015, if money is worth 9% compounded monthly?