3. Ziman received a 100-day promissory note for RM5,000 dated 10th September 2015.The simple interest charged was 6.5%. He later discounted the note on 30th October 2015 and received proceeds of RM5030.19. Find: a) the maturity date of the note (19th December 2015) b) the maturity value of the note (RM5090.28) c) the discount rate. (8.50%)

3. Ziman received a 100-day promissory note for RM5,000 dated 10th September 2015.The simple interest charged was 6.5%. He later discounted the note on 30th October 2015 and received proceeds of RM5030.19. Find: a) the maturity date of the note (19th December 2015) b) the maturity value of the note (RM5090.28) c) the discount rate. (8.50%)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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