This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The face value of a note is 10,000 with an interest rate of 8.5. The time is based on 180 days in a ... (Read 74 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
on: Jun 24, 2018
The face value of a note is 10,000 with an interest rate of 8.5. The time is based on 180 days in a 360-day year. The note has been discounted at 14 three months before the maturity of the note. How much are the proceeds?

Question 2

What is the interest rate on a 2-year loan for 5,500 which accrues 1,430 in ordinary simple interest? Round to the nearest whole percent.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

BAOCHAU2803

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 24, 2018
Answer to Question 1

10,060.12;

Answer to Question 2

13;


penza

  • Member
  • Posts: 1,022
Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

softEldritch

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Simple food web of an Arctic island. NOTE: The indication of detritivores and pathogens was not part Simple food web of an Arctic island. NOTE: The indication of detritivores and pathogens was not part
face muscles face muscles
Fractures are diagnosed based on an X-ray of the broken bone. Shown here: a comminuted fracture of ... Fractures are diagnosed based on an X-ray of the broken bone. Shown here: a comminuted fracture of ...
Effect of Increasing the Investment Rate on the Steady State Effect of Increasing the Investment Rate on the Steady State
Jim Croce - Time in a bottle - 1973 Jim Croce - Time in a bottle - 1973
Video: How do the different types of chromatography work? (No Audio)

For a complete list of videos, visit our video library