Brian invested a lump sum of 10,000 in a mutual fund with an ...

[tth]

Brian invested a lump sum of 10,000 in a mutual fund with an offer price of 6.03. How many shares did he purchase? (Round to the nearest thousandth)
 A) 1,600.500
  B) 1,658.375
  C) 1,685.375
  D) 6,300.000

Question 2

On March 25, Helen Norton received from a customer a 3,200 promissory note at 12 ordinary interest for 60 days. On April 14, Helen discounted the note at the Glenside Bank at a discount rate of 15. a. What was the maturity date of the note? b. What was the maturity value of the note? c. Determine the discount period. d. What proceeds did Helen receive on April 14?

[Pariscourtney]

Answer to Question 1

B

Answer to Question 2

a. 5/24
b. 3,264.00
c. 40 days
d. 3,209.60

[tth]

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[kalskdjl1212]

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