You wish to sell a 210 day Promissory Note that promises to pay $90,000 at maturity. The

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You wish to sell a 210 day Promissory Note that promises to pay $90,000 at maturity. The applicable simple interest rate is 8.59% per year.

If the sale occurs 80 days before maturity, Calculate the proceeds (P) of the sale?

Related Book For answer-question

Financial Management for Public Health and Not for Profit Organizations

ISBN: 978-0132805667

4th edition

Authors: Steven A. Finkler, Thad Calabrese

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Posted Date: Apr 05, 2023 02:24 AM

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You wish to sell a 210 day Promissory Note that promises to pay $90,000 at maturity. The

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To calculate the proceeds P of the sale of a 210day promissory note we need to use th... View the full answer

Financial Management for Public Health and Not for Profit Organizations

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