Answer:
Explanation:
The formula to compute the accrued interest is shown below:
= Principal × rate of interest × number of months ÷ (total number of months in a year)
For Nissim
The computation of accrued interest is shown below:
= Principal × rate of interest × number of days ÷ (total number of months in a year)
= $18,000 × 10% × ( 41 days ÷ 365 days)
= $202.19
The 10 days of November and 31 days of December equals to 41 days
For Klein
The computation of accrued interest is shown below:
= Principal × rate of interest × number of days ÷ (total number of months in a year)
= $14,000 × 9% × ( 18 days ÷ 365 days)
= $62.13
The 18 days of December month
For Bildersee
The computation of accrued interest is shown below:
= Principal × rate of interest × number of days ÷ (total number of months in a year)
= $16,000 × 12% × ( 12 days ÷ 365 days)
= $63.12
The 12 days of December month
