Question: A $40 000, 15-year promissory note dated June 1, 2010, bearing interest at 12% compounded semi-annually is discounted on September 1, 2018, at 11% compounded

A $40 000, 15-year promissory note dated June 1, 2010, bearing interest at 12% compounded semi-annually is discounted on September 1, 2018, at 11% compounded quarterly. What are the proceeds of the note?

Step by Step Solution

★★★★★

3.42 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Due date 20250601 Maturity value 40 00000106 30 40 000005743... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

726-B-F-F-M (1624).docx

120 KBs Word File

Students Have Also Explored These Related Finance Questions!

Jesper Parnevik borrowed $70,000 on March 1, 2006. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2016. To retire this debt, Jesper plans to contribute to a...

A ten-year promissory note for $1750 dated May 1, 2013, bearing interest at 4% compounded semi-annually is discounted on August 1, 2019, to yield 6% compounded quarterly. Determine the proceeds of...

What is the face value of a three-month promissory note dated June 18, 2015, with interest at 4.5 percent, if its maturity value is $950.89?

A $40 000, 15-year promissory note dated June 1, 2014, bearing interest at 12% compounded semi-annually is discounted on September 1, 2022, at 11% compounded quarterly. What are the proceeds of the...

7 Finance questions please help! A seven-year, $10,000 promissory note, dated May 1, 2007, with interest at 12% compounded quarterly is discounted four years after the date of issue at 16% compounded...

A seven-year, $10,000 promissory note, dated May 1, 2007, with interest at 12% compounded quarterly is discounted four years after the date of issue at 16% compounded semi-annually. What are the...

QUESTION 1 A 11-year promissory note for $6,752 dated today bearing interest at 4% compounded quarterly is discounted four years after the date of issue at 6% compounded semi-annually. What are the...

Question Completion Status: QUESTION 1 5 points Sa A 9-year promissory note for $5.256 dated today bearing interest at 3% compounded quarterly is discounted four years after the date of issue at 7%...

g Design a low pass Cheby filter that will meet the following specifications: Maximum attenuation in the pass band 0.2 db Minimum attenuation in stop band - 30 db Wp 15 Khz Ws 25Khz You may use...

Prove Eq. 5.76, using Eqs. 5.61, 5.74, and 5.75. [Suggestion: I'd set up Cartesian coordinates at the surface, with z perpendicular to the surface and x parallel to the current. ]

Linx Corp. has the following classes of equity: Preferred stock, $ 1 0 par, 8 % dividend rate $ 1 0 0 , 0 0 0 Common stock, $ 1 par $ 5 0 , 0 0 0 The preferred stock is cumulative and...

Plans to study abroad. The survey described in the previous exercise also asked about items related to academics. In response to one of these questions, 42% of first-year students reported that they...

Custom Computers holds a 120-day note of $8,000 that has an interest rate of 6% annually. After 60 days, the note is sold to a bank at a discount rate of 5% annually. Find the proceeds on the...

Find the exact interest on a loan of $850 at 11 % annually. The loan was made January 15 and was due March 15.

Michael Denton has a simple discount note for $2,000, at an ordinary bank discount rate of 12%, for 240 days. What is the effective interest rate? Round to the nearest tenth of a percent.

Background As a leader in the game development field, Game Technology has many customers. The company wants to add a customer contact management feature to the sales system, and you will assist the...

1. Please do the commands, which have been discussed in part 1 , on your own computer. Please provide screenshot for each command and briefly explain your observation (1-2 lines each). 2. Please...

Farmer Yumi also owns strawberry farms. She used a new fertilizer for her strawberries this year, so she wants to see if the new fertilizer made any difference in the weight of her strawberries. She...