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March 9 from the CIBC Bank at a cost of 9% p.a. The demand loan...

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Accounting

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March 9 from the CIBC Bank at a cost of 9% p.a. The demand loan agreement provided for a final payment on December 24 , and payments of $25,000 on April 10 and $30,000 on September 27 . Using the declining balance method, how much must be paid on December 24 ? (4 marks) a. How much is owing on April 10th after the payment? b. How much is owing on September 27th after the payment? c. How much is the last payment on December 24th? 4) A "146-day promissory note" issued at 19% p.a. matured on February 26, 2022, for $189,376.00. Determine the: ( 3 marks) a. The original face value of the promissory note b. The interest included in the maturity. c. The original issue date of the promissory note Math 1008: Days of Year Calendar - To count days between 2 dates, simply find the number for each of the days. and subtract. - IE Days between March 10 and May 20 is: 4140#69=71. days - It's easier to take the 2ne day and subtract from 1 day (won't be negative number)

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