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 130 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?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

A white squirrel. Note the non-pink eyes. A white squirrel. Note the non-pink eyes.
Spiral Produced by twisting stresses that are spread along the length of a bone (note the break in t Spiral Produced by twisting stresses that are spread along the length of a bone (note the break in t
Age-related cross-sectional changes on a variety of cognitive tasks. Note that although both ... Age-related cross-sectional changes on a variety of cognitive tasks. Note that although both ...
How to calculate compound interest (Part 2) How to calculate compound interest (Part 2)
100 days in school 100 days in school
Video: Random alignment at Metaphase I Animation

For a complete list of videos, visit our video library