Question: When discounted to yield 8,5%, compounded quarterly, a $6.400 six-year promissory note bearing interest at 12.4% compounded semiannually was prced at $9,609.33 How long after

When discounted to yield 8,5%, compounded quarterly, a $6.400 six-year promissory

When discounted to yield 8,5%, compounded quarterly, a $6.400 six-year promissory note bearing interest at 12.4% compounded semiannually was prced at $9,609.33 How long after the issue date did the discounting take place? (Do not round the intermediate calculations. Round your answer to the nearest month.) The discounting took place years) and month(s) after issue

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 Accounting Questions!

Determine the force in member BE. AE is constant. 3 m B E -3 m Prob. 9-29 D C 12 kN 3 m

A six-year, $1650.00 note bearing interest at 9.51% compounded annually was discounted at 11.2% compounded semi-annually yielding proceeds of $1916.75. How many months before the due date was the...

please help me in 70 dollars to do this assignment iin APA style referencing Topic 1 & 2 Introduction to financial management and the Australian Taxation system Financial Markets 2 Learning...

Fleda's Beauty Company has $200,000 of total assets and earns 20 percent interest and taxes on these assets. The ratio of total debts to total assets (or DR been set at 50 percent. The interest rate...

1. A 364 day T-bill with a face value of $1,000,000 was purchased by an investor at an interest rate of 2.38%, and sold after 100 days at interest rate of 2.35%.1What is the price paid for the T-bill...

1. Andy has an note that will mature in 57 months with a maturity value of $7,047.75. He sells the investment 26 months before maturity. The discount rate used was 5.80% compounded monthly How much...

PowerPoint Assignment for BUS 401: Principles of Finance You have been asked by a manager in your organization to put together a training program explaining Net Present Value (NPV) and Future Value...

\fDRAW TIME LINES! (Partial answers are given in brackets so show how to solve the problem and show complete final answers.) 1. During its 5050 Sale, Marpole Furniture will sell its products for a...

Need help with these discussion postings (in a document) and assignments (all in separate files), all directions are included as well. FINANCE DIRECTIONS Need to provide 1 original post substantial...

Q1. Which of the following has the most significant influence on return on equity? a. Common dividends b. Principal payments c. Accruals d. Operating income Q2. Shareholders react to poor investment...

1. What amount was invested 35 years ago at 7% compounded semiannually if the value of the investment has now grown to $1,000,000? Round to the nearest dollar. 2. Murphy's annual income has increased...

Read at least four articles on the ethical issues that may arise in information management and write a paper in which you have to address the following: Write a comparative analysis of the articles...

Repeat Problem 8.4 after replacing the dielectric medium with a poor conductor characterized by r = 2:25, r = 1, and = 104 S/m.

You own \ ( 4 0 \ % \ ) of Unique Vacations, Inc. You have decided to retire and want to sell your shares in this closely held, all equity firm. The other shareholders have agreed to have the firm...

2 Salesforce Account Teams can help give your reps: A Clearly defined roles on the team Access to the records necessary to work the deal A strategy for working an account A and B

=+f. Does it promise a benefit or solve a problem?

=+How do they reach out and tap you on the arm like a good friend about to confide a secret?

=+ Why do some seem like a personalized, individual message?