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 270 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?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Ectopic pregnancies. (a) An ectopic pregnancy may occur in any of the locations shown. Interstitial Ectopic pregnancies. (a) An ectopic pregnancy may occur in any of the locations shown. Interstitial
Oxidation of Fe-bearing minerals gives rocks, soils rusty color. Oxidation of Fe-bearing minerals gives rocks, soils rusty color.
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)
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, ...
How to impress a choosy female: Male Hangingfly Bearing Food How to impress a choosy female: Male Hangingfly Bearing Food
Video: Introduction to Tuberculosis

For a complete list of videos, visit our video library