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Withdrawal A 59 promissory note for $10000 was 13 days How much 4

Accounting

Withdrawal A 59 promissory note for $10000 was 13 days How much 4. CHAPTER 8-QUESTIONS needed today to pay the note? THIS → b. Sponz has secured a line of credit with the Bank of Alberta. The following trang tions were made for the last month. The account receives daily interest of 1.9 on positive balances and pays daily interest of 8% pa on negative balances. The home amount exceeding the line of credit limit. For each traction causing an overdraft or adding to an overdraft, a service charge of $10 is applied. Calculate the interest, overdraft interest, service charges, and the month-end balance for the line of credit Date Transaction Description Deposit March 1 Balance Cheque 437 2185.00 7 Cheque 438 421.00 12 Deposit 15 Cheque 439 5128.00 21 Cheque 440 6133.00 23 Deposit 2000.00 27 Deposit 5000.00 31 Interest charged Overdraft interest Service charge 5 Balance -4000.00 -6185.00 -6606,00 -606.00 -5734.00 -11867.00 -9867.00 -4867,00 6000.00 ? THIS → c. SportZ has negotiated a loan of $25 000 with interest at 7.6% per annum, to be paid as month-end payments of $2200.00 over the next year. Construct a loan amortiza- tion schedule to answer the following questions. (1) How much interest is paid over the first two months? (1) How much of the principal is paid by the end of the first two months? (11) How much interest is pad over the term of the loan? (iv) What is the annount of the final payment?

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