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Analyzing and Computing Accrued Interest on Notes During the current year, Penman Inc. issued three short-term notes payable with principal and interest due at the end of the term of the note. Compute interest accrued for each of the notes payable as of December 31 of the current year (assume a 365-day year). Round answers to two decimal places.

Sagot :

The interest accrued for each of the notes payable as of December 31 of the current year is

Nissim:

Principal=$18,000   interest=8%   Days completed a on Dec 31st 2012 is 40 days interest Accrued=(18000)*(8/100)*(40/365)= $157.81

Klein:

Principal=$11,000   interest=7%  Days completed a on Dec 31st 2012 is 18 days

Interest Accrued=(11000)*(7/100)*(18/365)= $37.97

Bildersee:

Principal=$16,000   interest=10%   Days completed a on Dec 31st 2012 is 12 days

Interest Accrued=(16000)*(10/100)*(12/365)= $52.60

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