# Math

posted by .

a 2-month note for \$4,500 was drawn on July 3 at 8%. If money is worth 9%, find the present value of the note on the day it was made.

## Similar Questions

1. ### accounting

need help with this problem. On July 1, 2008, The Reno Rattlers Inc. bought a reconditioned D.C. 3 to cut travel costs for its players to go away to games. The Rattlers paid \$1million in cash and signed a promissory note with no stated …
2. ### Finance

Carnation needs to buy a \$12,500 part the part company is offering cash discount terms of 4/10, n30. Carnation has a tight cash flow, wants to discount a 180 day note dated February 12 with a maturity value of \$10,300. Bank offers …
3. ### algebra

A local bank lends \$12,000 using a 150-day 9% simple interest note that was signed on May 18. The bank later sells the note at a discount of 14% on July 5. Find (a) the discount, (b) the proceeds, and (c) the amount of money the bank …
4. ### math

Brianna works at a sunglass shop. She earns \$9 per hour and a \$1 commission for each sale she makes. From July 1 to July 5, she saves all her money and doesnâ€™t spend anything. Each day, from July 1 to July 5, Brianna worked 4 hours. …
5. ### math

Find the maturity value of the undiscounted promissory note that states that Phillip Esterey borrowed \$4,000 for a period of 7 months with ordinary interest at 7%. The date of the note was December 17, 2008. The maturity date was July …
6. ### math(urgent)

9.A 10%,100-day note was dated 20 september 1992.the maturity value of the note was \$3083.33.If the note was discounted on 17 november 1992 at 12%,FIND i) the maturity date of the note = 29 december 1992 ii)the face value of the note …
7. ### math

9.A 10%,100-day note was dated 20 september 1992.the maturity value of the note was \$3083.33.If the note was discounted on 17 november 1992 at 12%,FIND i) the maturity date of the note = 29 december 1992 ii)the face value of the note …
8. ### math

9.A 10%,100-day note was dated 20 september 1992.the maturity value of the note was \$3083.33.If the note was discounted on 17 november 1992 at 12%,FIND i) the maturity date of the note = 29 december 1992 ii)the face value of the note …
9. ### math

Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Pinnacle Manufacturing received a \$40,000 promissory note at 12% simple interest for 95 days from one of its …