Question

What is the interest for January, February, and March on 3 month- 6% promissory note for...

What is the interest for January, February, and March on 3 month- 6% promissory note for $10,000.00 -the date of the note is January 2nd.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Alex borrowed $15,000 on March 25, 2020 and signed a 6-month promissory note with a simple...
Alex borrowed $15,000 on March 25, 2020 and signed a 6-month promissory note with a simple interest rate of 9%. Today (May 8th), the note is sold to a bank for $15,201.30. What simple interest rate, r, did the bank use to determine the proceeds?
On January 1, 2019, Vivi Inc. lent cash to a borrower by accepting a promissory note....
On January 1, 2019, Vivi Inc. lent cash to a borrower by accepting a promissory note. • The 3-year note has a principal value of $400,000 and a maturity date of December 31, 2021. • The note has a stated annual interest rate of 8% (coupon rate), with interest payable at the end of each year, starting December 31, 2019. • Under the circumstances, the market (discount) rate for a note of similar risk is 10%. Requirement: B1. Calculate the...
Nasha receives a promissory note dated 10 February 2018 with a simple interest rate of 6.5%...
Nasha receives a promissory note dated 10 February 2018 with a simple interest rate of 6.5% per annum. The note will mature on 10 June 2018. After she keeps the note for 70 days, she sells the note to a bank at a discount rate of 7% and receives proceeds of RM4,456.25. Find: a) The term of the note. b) The maturity value. c) The face value. d) The amount of interest Nasha receives.
1) The interest of a $4,000, 6%, 4 months note is: * 2) The interest of...
1) The interest of a $4,000, 6%, 4 months note is: * 2) The interest of a $11,000, 5%, 45 days note is: * 3) The maturity date of a 7 months note dated March 10 is: * 4) The maturity date of a 62 days note dated April 20 is: * 5) The interest of a $2,000, 7%, 50 days note is: * 6) The maturity date of a two years note dated January 15, 2020 is: *
It is January 1 of Year 2. Purchases for Yosef Company for January, February, and March...
It is January 1 of Year 2. Purchases for Yosef Company for January, February, and March are forecasted to be as follows: January, $200,000; February $400,000; March, $500,000. 40% of purchases are for cash. Of the credit purchases, 30% are paid during the month of the purchase, 50% in the month following the purchase, and 20% in the second month following the purchases. TOTAL purchases for November and December of Year 1 were $200,000 and $400,000, respectively. What is the...
Crede Company budgeted selling expenses of $29,200 in January, $34,400 in February, and $39,800 in March....
Crede Company budgeted selling expenses of $29,200 in January, $34,400 in February, and $39,800 in March. Actual selling expenses were $30,500 in January, $33,970 in February, and $47,600 in March. The company considers any difference that is less than 5% of the budgeted amount to be immaterial. Prepare a selling expense report that compares budgeted and actual amounts by month and for the year to date. CREDE COMPANY Selling Expense Report For the Quarter Ending March 31 By Month Year-to-Date...
Kaspar Industries expects credit sales for January, February, and March to be $204,200, $266,000, and $317,000,...
Kaspar Industries expects credit sales for January, February, and March to be $204,200, $266,000, and $317,000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Collections from Customers Credit Sales                   January                 February              March January                         $______                 $________           $______ February                        ______                 ________           ______ March                             ______                 ________           ______                                        $______                 $________...
Gibson Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 108,000...
Gibson Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 108,000 $ 114,000 $ 134,000 Cash payments For inventory purchases 94,000 76,000 89,000 For S&A expenses 35,000 36,000 31,000 Gibson Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 108,000 $ 114,000 $ 134,000 Cash payments For inventory purchases 94,000 76,000 89,000 For S&A expenses 35,000 36,000 31,000 Gibson Medical Clinic has budgeted the following cash flows. January February March...
An investor purchased a promissory note on June 15 for $27,329.96 using a negotiated interest rate...
An investor purchased a promissory note on June 15 for $27,329.96 using a negotiated interest rate of 10.5%. The promissory note had been issued on April 2 for a term of eight months at an interest rate of 9.25%. Calculate the original face value of the promissory note.
An investor purchased a promissory note on June 15 for $27,329.96 using a negotiated interest rate...
An investor purchased a promissory note on June 15 for $27,329.96 using a negotiated interest rate of 10.5%. The promissory note had been issued on April 2 for a term of eight months at an interest rate of 9.25%. Calculate the original face value of the promissory note.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT