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 81 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
Gracias!

Hdosisshsbshs

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Changes in the abundance and egg-hatching success rate of prairie chickens. Changes in the abundance and egg-hatching success rate of prairie chickens.
Healthier choices can be made when time is taken to read a nutrition label. Healthier choices can be made when time is taken to read a nutrition label.
The situational specificity of tolerance to the hypothermic effects of alcohol in rats. (Based on ... The situational specificity of tolerance to the hypothermic effects of alcohol in rats. (Based on ...
Use face cradle covers to prevent the client’s skin from touching the face cradle upholstery. Use face cradle covers to prevent the client’s skin from touching the face cradle upholstery.
Stretch the extensor muscles with flexion at the wrist. Reposition the palm to face the table. Apply ... Stretch the extensor muscles with flexion at the wrist. Reposition the palm to face the table. Apply ...
Surtsey, a volcanic island, during the time of its formation. Surtsey, a volcanic island, during the time of its formation.
Video: System organization - PPM system types (Somatic, Autonomic & Enteric) and Reflex arc types

For a complete list of videos, visit our video library