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Author Question: A non-interest bearing promissory note has a $3100 maturity value and it matures in 90 days. You ... (Read 285 times)

dmcintosh

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on: Jun 6, 2019

Question 1

A promissory note has a face value of $5000 and it carries an interest rate of 5% for a period of 6 months (including the period of grace). It is sold 3 months before the legal due date. What is the present value of the note on the date of sale if money is worth 4%?
◦ $5047.26
◦ $5125.00
◦ $5074.26
◦ $5125.26
◦ $5070.26

Question 2

A non-interest bearing promissory note has a $3100 maturity value and it matures in 90 days. You decide to sell the note 17 days before the legal due date. How much money do you sell it for if money is worth 5.15%?
◦ $3222.58
◦ $3209.58
◦ $3058.92
◦ $3092.58
◦ $3029.58
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by dmcintosh on Jun 6, 2019

dajones82

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dmcintosh

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Reply #2 on: Jun 6, 2019
TY


dajones82

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Reply #3 on: Jun 6, 2019
You're welcome


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