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 242 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?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Skin testing. Note the spot labeled H, which is the positive histamine control, and the spot labeled ... Skin testing. Note the spot labeled H, which is the positive histamine control, and the spot labeled ...
Example of simplified note for one-time client. Example of simplified note for one-time client.
Summary of SOAP Note Content Summary of SOAP Note Content
How to calculate simple interest (Part 5; r = I/Pt) How to calculate simple interest (Part 5; r = I/Pt)
Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ... Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ...
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Video: Elementary kinetics

For a complete list of videos, visit our video library