Question: Question: 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

Question:

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,

(b) The maturity value of the note,

(d) The proceeds.

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