Ask Question
2 April, 12:23

Interest expense is: Group of answer choices The effective interest rate times the amount of the debt outstanding during the interest period. The stated interest rate times the amount of the debt outstanding during the interest period. The stated interest rate times the face amount of the debt. The effective interest rate times the face amount of the debt.

+1
Answers (1)
  1. 2 April, 12:37
    0
    The effective interest rate times the amount of the debt outstanding during the interest period.

    Explanation:

    Interest expense refers to the amount of money that is paid on the borrowing amount at a particular interest rate. If a person borrow some amount of money from the bank then he have to pay interest on the borrowing amount for a particular time period.

    For example:

    Borrowing amount = $10,000

    Interest rate = 10%

    Simple interest = Principle amount * Interest rate

    = $10,000 * 0.1

    = $1,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Interest expense is: Group of answer choices The effective interest rate times the amount of the debt outstanding during the interest ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers