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A Malaysian electric company requires proceeds of $720,000 (local currency) and borrows from a banl Thailand at a 12%, discount rate for 45 days. Find (a) the face value of the note and (b) the effective interest rate.

A Malaysian electric company requires proceeds of $720,000 (local currency) and borrows from a banl Thailand at a 12%, discount rate for 45 days. Find (a) the face value of the note and (b) the effective interest rate.

FINANCIAL ACCOUNTING
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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Please do it on an excel sheet so i can see how to do it

5. A Malaysian electric company requires proceeds of $720,000 (local currency) and borrows from a bank in Thailand at a 12%, discount rate for 45 days. Find (a) the face value of the note and (b) the effective interest rate.
Transcribed Image Text:5. A Malaysian electric company requires proceeds of $720,000 (local currency) and borrows from a bank in Thailand at a 12%, discount rate for 45 days. Find (a) the face value of the note and (b) the effective interest rate.
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