How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
23669918
Type Your Finance Question Here...
Megan C is online now
A new question is answered every 9 seconds

Hi. i lent a friend 30,000. We agreed he would pay me 4.5%

Resolved Question:

Hi. i lent a friend 30,000. We agreed he would pay me 4.5% interest on this money. I lent him the $30,000. on June 5, 2013.
could you tell me how much he will owe me if he pays me on nov. 5 and how much he owes if he pays me on dec 5?
thank you.
Submitted: 2 years ago.
Category: Finance
Expert:  Megan C replied 2 years ago.

Megan C :

Hello and welcome to JustANswer.com

Megan C :

How are you today?

Megan C :

If you are paid on November 5, you will have 5 months of interest

Megan C :

That would get you $562.50 of interest

Megan C :

So he would owe you $30,562.50

Megan C :

If you wait until December 5, he will owe you $675, so the full amount due would be $30,675

Megan C :

Do you have any further questions?

Megan C :

If no further questions, please take a moment to rate as "excellent" so that I may receive credit for assisting you today

Megan C and 2 other Finance Specialists are ready to help you
Expert:  Megan C replied 2 years ago.
Thanks, Shelley for your positive rating. Please come back and see me if you need any more finance, tax, or social security questions answered. It was a pleasure working with you today.