Question: this is business math question c. Nonie received a 100-day promissory note with a face value of RM4,000 at a simple interest rate of 6.3%
this is business math question
c. Nonie received a 100-day promissory note with a face value of RM4,000 at a simple interest rate of 6.3% per annum. The maturity date was 6 November 2020. However, thirty days after receiving the note, Nonie discounted the note at a bank and the proceeds received is RM4,014.60. Calculate i. the date of the note, (2 marks) ii. the maturity value, (3 marks) iii. the discount rate charged by the bank
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