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what is the discount period, bank discount, and proceeds on 25000.00 at 9% for 60 days, date of note is June 8 and date note discounted is July 10
Use ordinary interest: Principal $70,000 Rate of Interest: 11% Time: 90 days Maturity Value: A Date note made Mar 10 Date note discounted: April 15 discount period: B proceeds: C note to be discounted at 10%
Date of Note March 11, length of note 200 days, Date of discount, June 28. What is the maturity date and the discount period, no leap years, exact days
8 On October 29, 2019, the Berkeley Company accepted a 60-day, 9 percent note from Devon Reed in settlement of his past- due account for $22,000. On November 28, Berkeley Company discounted the note at the Security Bank. The bank charged a discount rate of 12 percent. 1. What is the maturity date of the note? 2. What is the maturity value of the note? (Assume 360 days in a year. Do not round Intermediate calculations.) 3. How many days...
The proceeds of a $7,500.00, 10% simple discounted note for 85 days is:
Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)
Anderson Co. issued a $55,649, 60-day, discounted note to National Bank. The discount rate is 8%. At maturity, assuming a 360-day year, the borrower will pay a. $51,197 Ob. $55,649 Oc. $54,907 Od. $56,391
Actuarial Science Mathematics of Finance Discounted Value 6. For cach promissory note in the following table, determine the maturity date, maturity value, dis- counted period, and the proceeds. No.Date of Note Face ValueInterest on NoteTermDate of Discount Interest Rate for Discounting Nov.3 $3000 None Dec.1 3 months $500 Dec.24 192 days 7.00% 2 Dec.14 7.0% 6. For cach promissory note in the following table, determine the maturity date, maturity value, dis- counted period, and the proceeds. No.Date of Note Face...
Bill Blank signed an $7,540 note at Citizen's Bank. Citizen's charges a 8.2% discount rate. Assume the loan is for 270 days. a. Find the proceeds. (Use 360 days a year. Round your intermediate calculations and final answer to the nearest cent.) Proceeds b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.) Effective rate You were offered the opportunity to purchase either...
A 60-day, 9% discounted note for $26,400 is received from a customer on account on May 1. What are the proceeds from the note on May 1? Select the correct answer. $396 $26,400 $26,004 $26,796
On May 20, Sheffield Company discounted at Sunshine Bank a $7,290 (maturity value), 139-day note dated Feb. 20. Sunshine’s discount rate was 8%. (Use Days in a year table.) What proceeds did Sheffield Company receive? (Use 360 days a year. Do not round intermediate calculations.) Proceeds received :?