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

$3083.33 = (1+0.1(100/360)
= 1.0278
= 3083.33/1.0278
= 2.999.9

or

= (1-0.1(100/360)
= 0.9722
= 3083.33/0.9722
= 3171.49

but the answer is = 5100

actually i still confuse what actually formula to find face value.we need - or + ?

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asked by fizz
  1. NEVER POSTED THIS I WILL LEAVE

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    posted by fizz
  2. AND GO TO SPAIN

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    posted by fizz
  3. ey,not answering.good go to spain FIZZ

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    posted by fizz

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