Question: Q4. Ranjit has a 120-day note for RM5,000 with an interest rate at 6% per annum. The maturity date of the note is 5 May

Q4. Ranjit has a 120-day note for RM5,000 with an interest

Q4. Ranjit has a 120-day note for RM5,000 with an interest rate at 6% per annum. The maturity date of the note is 5 May 2019. On 23 April 2019, Ranjit discounts the note at 7% per annum. Find (a) the date of the note, (4 marks) (CLO2:PLO2:C3)(CLO2:PLO2:C3) (b) the maturity value of the note, (4 marks) (CLO2:PLO2:C3)(CLO2:PLO2:C3) (c) the discount, (3 marks) (CLO2:PLO2:C3)(CLO2:PLO2:C3) (d) the proceeds. (3 marks) (CLO2:PLO2:C3)(CLO2:PLO2:C3)

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