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Author Question: The face value of a note is 1,250 with an interest rate of 13. The time is based on 180 days in a ... (Read 150 times)

ahriuashd

  • Hero Member
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  • Posts: 535
on: Jun 24, 2018
The face value of a note is 1,250 with an interest rate of 13. The time is based on 180 days in a 360-day year. The note has been discounted at 17 two months before the maturity of the note. What are the proceeds?
 A) 1,293.53
  B) 1,285.42
  C) 1,277.08
  D) 1,250.00

Question 2

Which is the same as the face value of a loan?
 A) the term of a loan
  B) the maturity value of a loan
  C) the principal of a loan
  D) the discount of a loan


todom5090

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  • Posts: 328
Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

C


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