The amount of interest that jasper will collect on the loan is $682.50.
Interest = 39000*7%*90/360 = $ 682.50
ENTRY:
Cash $ 30,682.50
Interest revenue $ 682.50
Notes receivable $ 30,000.00
ANSWER:
Debit Cash $39,682.50: Credit interest revenue $682.50; Credit Notes Receivable $39,000.
Interest is the price you pay for borrowing money or the cost you charge for lending money. Interest is usually given as an annual percentage of the loan amount. This percentage is called the interest rate on the loan. For example, if you deposit money in a savings account, the bank will pay you interest.
Basically, he has three main types of interest. The nominal interest rate, the effective interest rate, and the real interest rate. The nominal interest rate for an investment or loan is the published interest rate at which interest payments are calculated.
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Answer:
Explanation:
See that question is hard to answer because 1 we dont have the chart shown to us and to we dont know anything because we dont know his data
Answer:
$18,750
Explanation:
The computation of cash or securities is shown below:-
Initial margin or cash or securities to be put into brokerage = Number of shares × current market price per share × Initial margin
= 300 × 125 × 50%
= $18,750
Therefor for computing the initial margin or cash or securities to be put into brokerage we simply applied the above formula.
<span>If you spend $35 using a credit card you have created, a $35 financial liability for yourself. </span>