1. A note of P 55,000 dated January 1, 2015 is due in 5years and 6 months with interest at 9% compoundedquarterly. On July 1, 2017, the holder of the note has itdiscounted by a lender who charges 8 ½ % convertedsemi-annually. What are the proceeds?

A promissory note is a debt instrument that contains a written commitment by one party (the note's…

Answered: 1. A note of P 55,000 dated January 1,…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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1. A note of P 55,000 dated January 1, 2015 is due in 5 years and 6 months with interest at 9% compounded quarterly. On July 1, 2017, the holder of the note has it discounted by a lender who charges 8 % % converted semi-annually. What are the proceeds?