math bus 105

posted by .

Calculate (a) interest and maturity value, (b) discount period, (c) bank discount, and (d) proceeds. Assume ordinary interest. (Round answers to nearest hundredths)

Date of note Face value Length of note Interest rate Bank discount rate Date of discount

Feb. 12 $80,000 150 days 8% 4% Jun 12

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    1. A 120-day simple discount promissory note for $12,000 with a simple discount rate of 9% was signed on July 14. It was discounted on August 30 at 9.5%. Find the proceeds at the time of the sale. 2. 8. A $15,000 T-bill is purchased …
  2. math/Finance

    I want to know the formula to use 1. A 120-day simple discount promissory note for $12,000 with a simple discount rate of 9% was signed on July 14. It was discounted on August 30 at 9.5%. Find the proceeds at the time of the sale. …
  3. contemporary math

    Varsity Press, a publisher of college textbooks, received a $70,000 promissory note at 12% ordinary interest for 60 days from one of its customers, Reader’s Choice Bookstores. After 20 days, Varsity Press discounted the note at the …
  4. accounting

    a simple discount note for $6,600 at a ordinary bank discount rate of 8.61% for 60 days. What is the effective interest rate?
  5. business Math

    You were offered the opportunity to purchase either a simple interest note or a simple discount note with the following terms: $33,353 at 7% for 18 months. a. Calculate the effective interest rate. (Do not round intermediate calculations. …
  6. business Math

    Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed. a. Calculate the simple interest …
  7. math

    A 7%,6O day note was discounted at 15 days before the maturity date. If the discount rate was 5.5% and the proceeds received were $ 997,77,find a)the amount of discount that was charged b)the discount date if maturity date of the note …
  8. Math

    Find (a) the exact interest and (b) the ordinary interest. Round answers to the nearest cent Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2007, and payable …
  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 …
  10. business

    In calculating the bank discount when discounting an interest-bearing note, which one of the following is not used in the calculation?

More Similar Questions