Question: 18. John signed a 90-day note with a face value of $6,000 and a discount rate of 18.57%. How much did the John receive from

18. John signed a 90-day note with a face value of $6,000 and a discount rate of 18.57%. How much did the John receive from the bank? (ordinary time)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Need 14-18 please & thanks in advance! 3 An $8,000 note dated 06/22/2018, matures on 12/22/2018 at 9.35%. (Banker's Rule) 14. 15. In how many days is the note due? What interest is paid on the note?...

Q:

18. John signed a 90-day note with a face value of $5,000 and a discount rate of 14.57%. How much did the John receive from the bank? (ordinary time).

Q:

John signed a 90-day note with a face value of $5,000 and a discount rate of 14.57%. How much did the John receive from the bank? (ordinary time)

Q:

i am taking Cooperate finance which is FIN222 can help me to answer.. ? Tutorial 1 Topic 1 Chapter 1 4. What are the main advantages and disadvantages of organising a firm as a corporation? 6. You...

Q:

Can't figure out how to calculate FIFO and LIFO for exercise 8-20 on page 15. Problem 3-1 (Part Level Submission) Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of...

Q:

What is the effective interest rate for the rst year for a loan of $20,000 for three years if the interest is compounded quarterly at a rate of 12%? Instructions: Week 5 Individual Assignment Total...

Q:

Docking Project 3 Company Background & Scenario The Davenport Docking Corporation is a well-established, publicly-held corporation, operating as a wholesaler in the marine parts industry....

Q:

ACCT 3110 Practice Case Instructions - Case will be worked individually and submitted, electronically, in typed format on April 14, 2019 by 10 pm CT in Blackboard. Students have check figures given...

Q:

PART A: : PART B: PART C: PART D: You are the owner of four Taco Bell restaurant locations. You have a business loan with Citizens Bank taken out 60 days ago that is due in 90 days. The amount of the...

Q:

Name: Score: Address: Mathematics 3 Module | MODULE TEST Solve the following problems. Round off the final answers to two decimal places. When you are done, read carefully and follow the instructions...

Q:

Construct a cash flow diagram to find the present worth in year 0 at an interest rate of 15% per year for the following situation. Year Cash Flow, $ 0 .............. 19,000 14 .......... + 8,100

Q:

Draw a supply-demand diagram illustrating the impact of a drought in the Corn Belt on the market for corn. Be certain you clearly label the axes and identify the change caused by the drought.

Q:

small financial services firms tend to specialize in a given area, such as \ ( 4 0 1 ( \ mathrm { k } ) \ ) planning or insurance products or tax preparation. A CFA member in charge of such a firm...

Q:

The order of precedence for arithmetic expressions causes Question 1 5 options: A ) addition to be done before subtraction B ) multiplication to be done before division C ) increment operations to be...