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What is the total interest on the note

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Q1. A company receives a 10%,90-day note for 150,000.

a. What is the total interest on the note?

b. What is the total amount paid if the company paid in full after 3 months?

Q2. Anna borrowed cash from a bank of 300,000 as initial capital for her business. The loan is payable within 3 years. The bank charge Ana 9% interest per annum.

a. Using simple interest method compute for the interest paid by Ana to the bank after 5 months

b. What will be the loan balance of Ana after 9 months of paying the monthly amortization?

Reference no: EM132994203

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