A $9,440 note is signed, for 100 days, at a discount rate of 9.5%. Find the proceeds. A) $9,190.89 B) $8,543.20 C) $9,440.00 D) $9,194.30
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- Give true solution for this accounting questionA company issued a 60 day 11% note for $17,000. What is the principal amount of the note? Round your answer to the nearest dollar. A) $16,688 B) $17,000 C) $18,870 D) $17,312 Please see below. I really need help with this asap. Please include relevant terms and dates as needed.
- A 60-day, 5% note for $7,200, dated April 15 is received from a customer on account. The face value of the note is the one listed below. Select the correct answer. $7,560 $7,200 $360 $7,260A $7,000, 4%, 120-day note dated March 20 is discounted on July 15. Assuming a 3% discount rate, the bank discount is: Multiple Choice $1.74 $1.77 $93.33 $70.00The face value of a simple discount note is $17,000. The discount is 4% for 160 days. Calculate the following.a. Amount of interest charged for each note. (Round your answer to the nearest cent.) Amount of interest b. Amount borrower would receive. (Round your answer to the nearest cent.) Amount receive c. Amount payee would receive at maturity. Amount receive at maturity d. Effective rate (Round your answer to the nearest tenth percent.) Effective rate %