Business Math

Date of Note March 11, length of note 200 days, Date of discount, June 28. What is the maturity date and the discount period, no leap years, exact days

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  1. Rex Corporation accepted a $5,000 8%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 9%. What is the note's dicount period?

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    2. 👎
  2. Rex Corporation accepted a $5,000 8%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 9%. What is the note's maturity value?

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