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On January 1, 2020, Bank X makes a loan of $10,000 on a 1 year note at an interest rate of 10% to a client. How much interest revenue is recognizable in total at the end of September 30, 2020
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Aug 23, 2023
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On January 1, 2020, Bank X makes a loan of $10,000 on a 1 year note at an interest rate of 10% to a client. How much interest revenue is recognizable in total at the end of September 30, 2020
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Eldiyar Talantbek
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Approximately $166.7:explanation
To calculate the interest receivable on this note, the math would be as follows:
Principal X Interest X Time = Interest receivable
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Tim Woocker
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Aug 28, 2023
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