Question: Find the discount and proceeds using the banker's rule on a promissory note for $1,980 at 8% made by Alexa Green on January 30, 2012,

Find the discount and proceeds using the banker's rule on a promissory note for $1,980 at 8% made by Alexa Green on January 30, 2012, and payable to Enterprise Bank on July 30, 2012.

Step by Step Solution

★★★★★

3.27 Rating (173 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

211 30 181 days 1 le... 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)

724-B-F-F-M (2766).docx

120 KBs Word File

Students Have Also Explored These Related Finance Questions!

Bob and Serena are married and file a joint income tax return. For 2017, their modified AGI is $70,000. Their daughter, Dawn, is in her third year at State University. They paid $4,300 for Dawn's...

Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2011, and payable to First State Bank on August 10, 2011, with a discount rate...

The following transactions of Beltville College transpired during 2012. The funds necessary are the Endowment Fund, the Annuity Fund, the Plant FundUnexpended, the Plant FundInvestment in Plant, the...

1. McCutchon wrote a check payable to cash while he was in a supermarket. Before he got to the cashier, he realized that he had lost the check. Is this a bearer instrument, payable to any holder? 2....

Please just help me correct the ones that I got wrong. Please, and thank you. The corrections are in the file seboprincess00322885. I made some corrections already so if you come across them, just...

Using the excel template, Calculate various ratios to evaluate Target's financial position, operational efficiency, profitability, and its competitor, Target, for the fiscal years ending 2018, 2019,...

Question 1 (2.5 points) Complete the following. If there is no operating loss or absolute loss, write "none." Cost Operating Expense Break-even Point Reduced Price Operating Loss Absolute Loss $780...

1. In 2013, several data server companies took a dramatic decision to begin using energy surcharges to recapture rising energy costs. However, customers are critical of how the energy surcharges are...

I've attached the question as a word file, thanks! JWCL165_c10_444-505.qxd 8/12/09 7:24 AM Page 444 10 Liabilities Chapter STUDY OBJECTIVES After studying this chapter, you should be able to: 1...

Indicate the type of debt did Disney offers to the public for sale and discuss the various approaches Disney incorporated to ensure successful marketability of these securities. List the dollar...

Velocity in the country of Ne media is always stable. In 2012, the money supply was $100 billion and real GDP was $300 billion. In 2013, the money supply increased by 10 percent, real GDP increased...

If your company does not have a vision or mission statement, describe a good process for developing these documents.

The Japasese aulomaker wanted a two - par supply agreement for 1 7 , 0 0 0 Liflium - ion 1 2 V ballury packa per year. Battery prioes nad been a . Given the final contract value, what woult the...

Michael Hauck claimed that he was discharged by his employer, Sabine Pilot Service, because he refused its direction to perform the illegal act of pumping the bilges of the employers vessel into the...

Alam Company is a manufacturing firm that uses job-order costing. At the beginning of the year, the company's inventory balances were as follows: Raw materials $ 25,400 Work in process $ 74,400...

Brenner was in the scrap iron business. Almost daily, Plitt lent Brenner money with which to purchase scrap iron. The agreement of the parties was that when the scrap was sold, Plitt would be repaid...

Food Caterers of East Hartford, Connecticut, obtained a franchise from Chicken Delight to use that name at its store. Food Caterers agreed to the product standards and controls specified by the...

Mazir Coleman had driven a school bus for the Casey County, Kentucky, Board of Education for four years. After that time, Colemans left leg had to be amputated. Coleman was fitted with an artificial...

Which of the following is a control that most likely could help prevent employee payroll fraud? a. The personnel department promptly sends employee termination notices to the payroll supervisor. b....

The proceeds from the sale of a $4500 five-year promissory note bearing interest at 9% compounded quarterly were $6055.62. How many months before its maturity date was the note sold if it was...

A $4000 loan at 7.5% compounded monthly was settled by a single payment of $5000 including accrued interest. Rounded to the nearest day, how long after the initial loan was the $5000 payment made?...

Philippe contributed $4300 to an RRSP eight years and six months ago. The money was invested in a Canadian Equity mutual fund. The investment is now worth $10,440.32. Over the entire period, what...

4. The mass in grams of a packet of biscuits of a particular brand follows a normal distribution with mean . Ten packets of biscuits are chosen at random, and their masses noted. The results in grams...

-X C Project A Cost $1.050 And Projec X instructure.com/courses/32792/quizzes/94727/take 6 pts Question 16 What is Project B's Discounted Payback Period with a WACC of 14.75%? YEAR CASH FLOWS Project...

Assume you require 11.5% return. A company has common stock which just paid a dividend of $2.9274 (at moment 0). Dividends forecast to gow 533 . for the upcoming five years (years 1-5). After year 5,...