Question: Compute the face value of a 120-day promissory note dated May 1, 2018 that has a maturity value of $90,000 and an interest rate of

Compute the face value of a 120-day promissory note dated May 1, 2018 that has a maturity value of $90,000 and an interest rate of 6.7% p.a.

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:

Assignment 3 business maths 101 ASSIGNMENT 3 (TOTAL 30 MARKS) Compute the amount of interest on $835 at 7.5% p.a. from October 8, 2019, to August 4, 2020. (2 marks) 2. How many days will it take for...

Q:

Can anyone please solve this step by step.On paper with pen. 1. Compute the amount of interest on $835 at 7.5% p.a. from October 8,2019 , to August 4, 2020. (2 marks) 2. How many days will it take...

Q:

4) Determine the date represented by 100 days after March 1, 2012. 5) Find the maturity value of a $473 note issued on October 4 at 8.5% for 190 days. 6) Find the maturity value of a six-month, $642...

Q:

5) Find the maturity value of a $473 note issued on October 4 at 8.5% for 190 days. 6) Find the maturity value of a six-month, $642 note dated November 1, 2013, earning interest at 7.5%. 7) Determine...

Q:

*PLEASE SHOW YOUR WORK* Question 9: Find the maturity value of a six-month, $702 note dated November 1, 2013, earning interest at 3.5%. (5 marks) Question 10: What is the face value of a three-month...

Q:

1. Diana bought a RM5,888 karaoke set on an instalment basis in which she made a RM888 down payment. To settle the balance, she has to pay RM1,000 every month for the principal payment plus interest...

Q:

1. Diana bought a RM5,888 karaoke set on an instalment basis in which she made a RM888 down payment. To settle the balance, she has to pay RM1,000 every month for the principal payment plus interest...

Q:

(a) Prepare the necessary adjusting journal entries on December 31 for each situation. (b) Prepare the necessary reversing journal entries on January 1 of the subsequent year. 1..Company Q paid for a...

Q:

During 2020, Quarantino Company sold accounts receivable with recourse with a face amount of P1,000,000. The factor charged a service fee of 10% of the accounts factored and withheld 5% of the...

Q:

What is the loss on factoring should AAA report for 2019? What is the mount proceeds from discounting the note on June 30,2019? What amount should be recognized as interest expense related to the...

Q:

Give some reasons why gross domestic product is not a suitable measure of the well-being of the nation. (Have you noticed newspaper accounts in which journalists seem to use GDP for this purpose?)

Q:

Calculate the Net Potential Energy of a Na+Cl- ion pair. Which is formed by formed by ionic bonding if it is known that the ionic radius of the Na+ ion is 0.095 nm and that of the Cl- ion is 0.181...

Q:

WT inc has issued a semiannual coupon bond. What effect will an increase in the market rate of interest have on this bond? A. Increase the coupon rate B. Decrease the coupon rate C. Decrease the...

Q:

Explains how a check digit is found for an International Bank Account Number (IBAN) ? and what types of errors that can be found using this check ?? please provide some sources with your answer!