Question: Determine the discount, the discounted value, and the equivalent simple interest rate on a note of $35 000 which is due in 9 months at

Determine the discount, the discounted value, and the equivalent simple interest rate on a note of $35 000 which is due in 9 months at a discount rate of 26%

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!

1. Using the center-of-gravity model and Exhibit 6.15, compute the center of gravity for the population of the county. Show all computations, explain, and justify. Based solely on this criterion,...

a. A customer signed a promissory note agreeing to pay $100 000 in three months' time. You them decide to discount the note with a bank at a discount rate of 22 %. How much would you receive from the...

3. i) A 90-day, 8% interest bearing note for RM3000 dated 2 September was discounted on 14 November 2019 at 5%. Find a) the maturity value of the note, b) the discount, c) the proceeds. ii) A bank...

ASSIGNMENT 1 Assume the following information for an existing bond that provides annual coupon payments: Par value = $10 000 Coupon rate = 11% Maturity = 4 years Required rate of return by investors...

1) An obligation of RM8400 is due in six months. What is the present value of this obligation at a bank discount rate of 9%? 2) A 90-day, 8% interest-bearing note for RM3000 dated 2 September 2019...

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...

1) An invoice dated 10 May 2020 for RM8200 inclusive handling charges of RM70 was offered trade discounts of 9% and 5% and cash discount terms of 8/10,3/20 and n/30. Find: a. the net price after...

Suppose that a $10,000 maturity value note is discounted with a simple discount rate of 6 %. Determine the equivalent simple interest rate assuming that the term?

0.030309741 303% 99 250 oblems 1 to 4 determine the maturity date, maturity value, discount period. tue Term Interest Rate on Note None S.SI Date of Discount Interest Rate for Discounting 3 months...

Working on a final paper evaluating General Motors Co, corporate performance. Attached is the outline of the assignment along with GM financial annual statement. Evaluation of Corporate Performance...

1 This assignment covers material from Units 1 to 4 in the Mathematics 244 Study Guide. It is due after Unit 4 in the Study Guide is completed. Total Marks = 150 1. Evaluate each of the following...

Select all of the elementary matrices below. 1 0 1 0 1 0 0 1 0 1 -1 -1 -1 -1 0 1 1 1 0 0 1 0

Sue Simmons's marketing research firm has local representatives in all but five states. She decides to expand to cover the whole United States by transferring five experienced volunteers from their...

. A Sec. " 2 5 0 3 ( c ) trust" A ) is a discretionary trust for a beneficiary of any age. B ) is intended for beneficiaries over the age of 2 0 . C ) requires distribution of trust assets to the...

Biotech, Inc. is one of the world's fastest growing biotechnology firms. In addition to performing basic research, the company provides several FDA-approved drugs. They have recently expanded into...

=+Locate an example of professional communication from a reputable online source. It can reflect any aspect of business communication, from an advertisement or a press release to a company blog or...

=+next two to three months. You have to decide whether to tell them now so they can look for new jobs as soon as possible, even though youre not yet that sure layoffs will be necessary, or wait until...

=+4. Youre the CEO of a company whose sales are declining, and there is a 50 50 chance you will need to lay off some of your employees sometime in the