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jessica94866
21.02.2020 •
Business
Compute the interest accrued on each of the following notes payable owed by Northland, Inc. on December 31:
Use 360 days for calculations and round to the nearest dollar.
Lender Date of Note Principal Interest Rate (%) Term
Maple November 21 $23,000 10% 90days
Wynam December 13 19,000 9% 60days
Nahn December 19 21,000 12% 120days
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Ответ:
The interest accrued on Maple is $256, Wynam is $855 and Nahn is $840
Given that,
Maple lender amount is $23,000 and days between Nov 21 - Dec 31 is 40 days.Wynam lender amount is $19,000 and days between Dec 13 - Dec 31 is 18 days.Nahn lender amount is $21,000 and days between Dec 19 - Dec 31 is 12 days.According to the scenario, computation of interest accrued on each are as follows:
Maple
= $23000
10%
(40days
360days)
= $255.56 or $256.
Wynam
= $19000
9%
(18days
360days)
= $855
Nahn
= $21000
12%
(12days
360days)
= $840
Learn more : link
Ответ:
Explanation:
The computation of accrued interest for each is shown below:
For Maple
= $23,000 × 10% × 40 days ÷ 360 days
= $255.56
The 40 days are counted from 9 days in November and 31 days in December month
For Wynam
= $19,000 × 9% × 18 days ÷ 360 days
= $855
The 18 days are taken from 18 days in December month
For Nahn
= $21,000 × 12% × 12 days ÷ 360 days
= $840
The 12 days are taken from 18 days in December month
Ответ:
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