An investor bought a Promissory note for 250 000 and held it until it matured, 356...
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An investor bought a Promissory note for 250 000 and held it until it matured, 356 days later. If he received 295 000 for it, what is the discount rate on the PN? Question 9 Your broker quotes a 180 Day U.S T-Bill Trading at 97.2 from par, and a 90 day T-Bill trading at 98.6. Which will you invest in and what is your annual return? An investor bought a Promissory note for 250 000 and held it until it matured, 356 days later. If he received 295 000 for it, what is the discount rate on the PN? Question 9 Your broker quotes a 180 Day U.S T-Bill Trading at 97.2 from par, and a 90 day T-Bill trading at 98.6. Which will you invest in and what is your annual return?
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For the first question The face value of the Promissory note is 250000 and it was sold for 295000 at ... View the full answer
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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