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

Author Question: A non-interest bearing promissory note has a $3100 maturity value and it matures in 90 days. You ... (Read 126 times)

dmcintosh

  • Hero Member
  • *****
  • Posts: 517
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by dmcintosh on Jun 6, 2019

dajones82

  • Sr. Member
  • ****
  • Posts: 359
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.
Answer Preview
Only 25% of students answer this correctly


dmcintosh

  • Hero Member
  • *****
  • Posts: 517
Reply #2 on: Jun 6, 2019
TY


dajones82

  • Sr. Member
  • ****
  • Posts: 359
Reply #3 on: Jun 6, 2019
You're welcome


« previous next »
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Schematic of a typical electronic throttle control (ETC) system. Note that terminal #5 is always ... Schematic of a typical electronic throttle control (ETC) system. Note that terminal #5 is always ...
Annual Mean Number of Days with Thunder Annual Mean Number of Days with Thunder
Case of ONJ that occurred spontaneously. Note the white area, which is exposed necrotic bone. Case of ONJ that occurred spontaneously. Note the white area, which is exposed necrotic bone.
How to calculate simple interest (Part 1) How to calculate simple interest (Part 1)
Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ... Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ...
The Vertebral Column. Note the Four Curvatures of the Spine in the Right Lateral View The Vertebral Column. Note the Four Curvatures of the Spine in the Right Lateral View
Video: A Human Karyotype Preparation Animation

For a complete list of videos, visit our video library