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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Hi. i lent a friend 30,000. We agreed he would pay me 4.5%

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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.

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

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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.