Question: 9. Compute, the face value of a 90-day note dated June 15, bearing interest at 15% and having a maturity value P788.50. 10. A bank

9. Compute, the face value of a 90-day note dated June 15, bearing interest at 15% and having a maturity value P788.50. 10. A bank discounted at 15% discount rate a noninterest bearing note for P20,000 due in 180 days. On the same day the note was discounted again at 14% discount rate second bank. Find the profit made by the first bank

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 Accounting Questions!

Those questions are related to Financial Mathematics: Marios regular pay is $23.00 per hour. The regular workweek is 40 hours, and overtime is paid at time-and-a-half the regular hourly rate. If...

please help me to answer this. 53. What are the effects of direct loan origination costs and origination fees to the carrying amount of a loan receivable? Direct origination costs Origination fees a....

Those questions are related to Financial Mathematics: Mario's regular pay is $23.00 per hour. The regular workweek is 40 hours, and overtime is paid at time-and-a-half the regular hourly rate. If...

Professor never gave us an answer key, here y'all go if you feel up to it. Use the following data for the next 5 questions Marie Co. uses a periodic inventory system. The purchases of a particular...

1.) The amount of interest on a 10,500 , 90 day, 9 % note payable is? $________ 2.) The maturity value of a $12,000, 45-day,8% note receivable is? $_______ 3.) When one borrows from a bank that...

Prepare Journal entry and T- account Requirement: Prepare: Journal entry and Trial balance for Notes, October, November, and December. The Bigfork Company is a retail company that began operations on...

GLOBE 66 B/s * 1896:12 Exercises: (Simple Interest-Simple Discount-Promissory Note) 1. A small business owner Borrowed Php8,500.00 at 9% for 18 months. How much interest will be repaid upon maturity...

Answer all of the questions onto the word document. Part True/False Part multiple choice Fall 2015 ... Final Exam Study Guide The final exam will consist of 80 points worth of questions from this...

Requirement: 1. Record the transactions for the last quester in the general journal. 2. record adjusting entries for the year ended December 31,2022: A. Depreciation on the office and store...

Under what circumstances is it cheaper for private developers to obtain formerly private property through the governments use of eminent domain? As noted in this chapter, private ownership of land is...

Suppose f: BR is a Borel measurable function. Define g: R R by [f(x) if x B, g(x) = if x ER\ B. Prove that g is a Borel measurable function.

Which of the following best describes when a tax return preparer is subject to a penalty for taking an unreasonable position on a federal income tax return? Group of answer choices When the position...

0-5 LEASE VERSUS BUY Morris-Meyer Mining Company must install $1.5 million of new machinery in its Nevada mine. It can obtain a bank loan for 100% of the required amount. Altematively, a Nevada...