Question: Q3. A 10%, 100-day note was dated 20 September, 2019. The maturity value of the note is RM 3083.33. If the note was discounted on

Q3. A 10%, 100-day note was dated 20 September, 2019. The

Q3. A 10%, 100-day note was dated 20 September, 2019. The maturity value of the note is RM 3083.33. If the note was discounted on 17 November 2019 at 12%, find (a) the maturity date of the note, (3 marks) (CLO2:PLO2:C3) (b) the face value of the note, (3 marks) (CLO2:PLO2:C3) (c) proceeds when the note was discounted, (4 marks) (CLO2:PLO2:C3) (d) the simple interest rate that was equivalent to the discount rate. (2 marks) (CLO2:PLO2:C3) Q3. A 10%, 100-day note was dated 20 September, 2019. The maturity value of the note is RM 3083.33. If the note was discounted on 17 November 2019 at 12%, find (a) the maturity date of the note, (3 marks) (CLO2:PLO2:C3) (b) the face value of the note, (3 marks) (CLO2:PLO2:C3) (c) proceeds when the note was discounted, (4 marks) (CLO2:PLO2:C3) (d) the simple interest rate that was equivalent to the discount rate. (2 marks) (CLO2:PLO2:C3)

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