Christina Hercher borrowed $50,000 on a 90-day 8% note. Christina paid $3,000 toward the note on day 40. On day 60 she paid an additional $4,000. Using the U.S. Rule, Christina's adjusted balance after the first payment is:
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Christina Hercher borrowed $50,000 on a 90-day 8% note. Christina paid $3,000 toward the note on day 40. On day 60 she paid an additional $4,000. Using the U.S. Rule, Christina's adjusted balance after the first payment is:
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$49,555.56
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$444.44
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$47,444.44
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- Jim Murphy borrowed $30,000 on a 120-day 14% note. Jim paid $5,000 toward the note on day 95. On day 105 he paid an additional $6,000. Using the U.S. Rule, Jim's adjusted balance after the first payment is: Multiple Choice $25,000 $28,891.67 $1,108.33Jonas borrowed $8,000 on a 60-day 10% note. Jonas paid $4,000 toward the note on day 40. On day 50, he paid an additional $3,000. Using the U.S. Rule, Jonas's adjusted balance after the first payment is: Multiple Choice $3,250.22 $4,000 $88.89 $4,088.89 None of theseRebecca signed a $6,000, 120-day, 14% exact simple interest note on May 6. She made partial payments of $1,000 on June 4, and $2,000 on July 3. Find her payoff amount on the maturity date of the note, according to the U.S. Rule.
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- Soledad receives a bill for P18,000 dated July 7 with terms 6/15, 4/30, n/60. What cash discount will she received if she pays (a) in 15 days; (b) on the 25th day; and (c) on the 40th day? Round to the nearest centavoDina loans $24,000 to her daughter Erin and does not charge any interest. Erin has investment income of $1,400 and investment expenses of $300. Assume that the applicable federal rate is 5%. How much interest must be imputed on the loan? 1. $1,000. 2. $1,100. 3. $1,200. 4. $1,400. Ⓒ$1,100. $1,200. $1,400. $1,000.Darcy holds a 200 day note from Brenda. This note was given by Brenda to Darcy since the former owes the latter $69,000. The simple interest note is dated Dec. 28 and carries an interest of 8%. The note is then sold by Darcy to a bank on March 17 at a discount rate of 12%. How much profit did the bank make? Group of answer choices $2,609,96 $2,966.69 $2,906.69 $2,609.69
- Jacqueline purchased an interest-bearing promissory note for $13,000.00 at 3.00% p.a., due in 120 days. If she sold the note in 48 days by discounting it at 4.00% p.a., calculate the proceeds of the note.a man borrows money from the bank but only received 86% of the amount requested. he signs a promissory note that he would pay P55,980 at the end of 7 years. how much money is requested from the bank if the simple interest rate is 9.766% a. 36,857.114 b. 38,662.539 c. 33,249.783 d. 30, 365.448Jordan is an eligible educator. He spends a total of $300 on classroom supplies. He also reported U.S. Treasury Series I Savings Bonds in the amount of $250. What is the maximum amount of qualified expenses he may deduct as an adjustment to income is? $100 $300 $250 $50