A security has a price of $3,000 and an amount to be repaid in a single payment of $3,400. What is the amount of interest on the security?
What will be an ideal response?
Interest = amount repaid minus price= $3,400 - $3,000= $400
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Answer the following statements true (T) or false (F)
1) In counting the number of days in a note term, omit the date the note was issued. 2) A five-month note dated October 15, 2019 would mature on February 15, 2020. 3) Interest on a $15,000 note at 4% for 4 months is $200. 4) Interest on a $40,000 note at 10% for 45 days is $493. (Use a 360 day year. Round your answer to the nearest dollar.) 5) In the formula for computing the interest on a note, the time period represents the portion of a year that interest has accrued on the note.
The present value of future free cash flows valuation method focuses on free cash flows, a base that economists argue has more economic meaning than ____________________
Fill in the blank(s) with correct word
The following is NOT a major component of the financial statements:
a. auditor's opinion b. annual report c. explanatory notes d. balance sheet
As a business grows or evolves it is necessary for the accounting system to
A) stay the same according to the consistency principle. B) completely change computerized accounting systems and simplify to a manual system. C) completely change all manual accounting systems to one that is computerized. D) adapt or modify to meet the specific needs of the business.