17 on april 1 2015 banne services has received a 6 month note for 10 000 at 8 calcul 4307050

17 on april 1 2015 banne services has received a 6 month note for 10 000 at 8 calcul 4307050

17) On April 1, 2015, Banne Services has received a 6-month note for $10,000 at 8%. Calculate the amount of interest receivable on maturity.

A) $320

B) $460

C) $800

D) $400

18) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. How much interest revenue did the company record in the year 2015?

A) $1,500

B) $1,250

C) $5,000

D) $3,750

19) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. How much interest revenue did the company record in the year 2016 for this note?

A) $2,150

B) $3,750

C) $1,250

D) $5,000

20) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. Calculate the total interest earned on the note.

A) $5,000

B) $3,750

C) $1,250

D) $15,000

21) On October 1, 2015, Android Inc. made a loan to one of its customers. The customer signed a 4-month note for $100,000 at 15%. Calculate the maturity value of the note.

A) $105,000

B) $75,000

C) $25,000

D) $95,000

22) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. How much interest revenue was earned during the year 2015?

A) $180

B) $150

C) $200

D) $900

23) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. How much interest revenue was earned during the year 2016?

A) $900

B) $1,800

C) $1,600

D) $1,200

24) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. How much interest revenue was earned for the entire term of the note?

A) $1,350

B) $1,200

C) $150

D) $1,800

25) On December 1, 2015, Parsons Inc. sold machinery to a customer for $20,000. The customer could not pay at the time of sale, but agreed to pay 9 months later, and signed a 9-month note at 9% interest. What was the total amount of cash collected by Parsons on the maturity of the note?

A) $21,800

B) $21,350

C) $18,650

D) $21,200

26) A six-month note receivable for $4,000 at 12%, dated September 1, 2015, has accrued interest revenue of ________ on December 31, 2015.

A) $480

B) $240

C) $160

D) $80

"Get 15% discount on your first 3 orders with us"
Use the following coupon
"FIRST15"

Order Now

Related Posts