Aman holds a note of 55,000 that has an interent rate of 13% annualy. The note wan made on March 16 and in due November 13. He sele the note to a bank on June 14 at a discount rate of 12annually. Find the proceeds on he thied-party diacount note. (Use the bankers nule)The proceeds are S(Round the ival anwer to the nearest hundredth n needed. Round all intermediate values to the nearest hundredh a needed)

The banker's rule assumes a ordinary interest which takes 360 days as the basis.

Aman holds a note of 55,000 that has an tereet rate of 13% annualy The note was made on March 16 and is due Nevember 13. He sets the note waly Fend the proceeds on the thed-party diacout ote (Use the beers e bank on June 14 at a decount rate of 12 The proceeds are (Round he fnal anwer to the nearet hndedhneed. Round at emeda valuesthe nearet hundredh needed)

Aman holds a note of 55,000 that has an tereet rate of 13% annualy The note was made on March 16 and is due Nevember 13. He sets the note waly Fend the proceeds on the thed-party diacout ote (Use the beers e bank on June 14 at a decount rate of 12 The proceeds are (Round he fnal anwer to the nearet hndedhneed. Round at emeda valuesthe nearet hundredh needed)

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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Illinois Bank lends Lisle Fumiture Company $00.000 on December 1 Lisle Fumiture Company sign a S00.000, 4-month nate The total cash pad matuty of the t(Round yoar ha aerth a OA S97,200. OR S03.600 OC $92,400 D. $00.000.
1. a) the amt of interest pd in cash every payment period, 1. b) the amt of amorization to be recorded at each interest payment date.(use the straight -line method
Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Roni Lockard signed a $28,500 simple discount promissory note at a certain bank. The discount rate was 13%, and the note was made on February 18 (not in a leap-year) for 116 days. (a) What proceeds (in $) will Roni receive on the note? $ (b) What is the maturity date of the note?
Dave borrowed $550 on January 1, 2022, and paid it all back at once on December 31, 2022. The bank charged him a $3.50 service charge, and interest was $40.70. What was the APR? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Annual percentage rate %
Joshua borrowed $500 on January 1, 2021, and paid $30 in interest. The bank charged him a service charge of $21. He paid it all back at once on December 31, 2021. What was the APR? (Enter your answer as a percent rounded to 1 decimal place.) APR %
Mr. Haryadi which is located at Jln Panjang no. 34 Bandung, received a Note with a nominal value of Rp. 6,000,000 term 3 months , dated May 1, 2020. On June 2, 2020, money order the discounted with 10% discount ( with 1 year assumption same with 360 days ). Requested : a. how much money that will Mr. Haryadi accepted ? make the journal b. how much money that will accepted Mr. Haryadi if money order the interest 12% per year ? make the journal
The opening balance of a savings account for November is $2,004.On November 9. S621 was withdrawn from the account. On November 22, 449 was withdrawn from account. t the acoount pays simple interest at 195% based en the daily cosing balance how much interest is deposited on December 17 For marks your answer should be rounded to he nearest cent Interest = S 0.00
Just as a heads up in the question it mentions ordinary interest, ordinary interest is 360 days instead of the full 365 days a year
Rakesh
A debtor owes $3,675 on August 24th. The Note Holder sells the Note to a THIRD PARTY on May 17th, who wants an 11% Simple Interest Return. What does the Debtor Owe on August 24th? What does the THIRD PARTY pay for the note? (Use Banker's Rule, Round to the nearest penny, NO dollar signs, USE commas)
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Divu

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