Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Length of note 45 days Date of note Discount period days Date note discounted September 11 October 5
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- Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note Date note discounted Discount period March 07 120 days June 08 daysCalculate the discount period for the bank to wait to receive its money: (Use Days in a year table): date of note length of note date note discounted discount period (days) july 14th 50 days august 5 ?Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note Date note discounted Discount period April 12 45 days May 02 days
- Using ordinary interest, calculate the missing information for the following simple discount notes. Date of Bank Maturity Date Note Discount Aug. 14 Face Value 20. $50,000 21. $875,000 Discount Rate (%) 13 9/2/2 Apr. 5 Oct. 25 Term (days) 87 ProceedsCalculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note July 13 Length of note 40 days Date note discounted August 3 Discount period daysSolve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value Rate of Length of Date note (principal) interest note Maturity value Date of note discounted Discount period days Bank discount Proceeds $20,500 11% 75 days $ July 13 August 3 $ $
- Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) FaceValue DiscountRate (%) Date ofNote Term(days) MaturityDate Bank Discount(in $) Proceeds(in $) $700 12.2 Sept. 4 107 $ $Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value (principal) Rate of interest Length of note Maturity value Date of note Date note discounted Discount period Bank discount Proceeds $50,000 11% 95 days June 10 July 1830. Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note length of note date note discounted discount period September 18 45 days October 9 ??? days TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 31 January 28 February 31 March 30 April 31 May 30 June 31 July 31 August 30 September 31 October 30 November 31 December 1 1 32 60 91 121 152 182 213 244 274 305 335 2 2 33 61 92 122 153 183 214 245 275 306 336 3 3 34 62 93 123 154 184 215 246 276 307 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 127 158 188 219 250 280 311 341 8 8 39 67 98 128 159 189 220 251 281 312 342 9 9 40 68 99 129 160 190 221 252 282 313 343 10 10 41 69 100 130 161 191 222 253 283 314 344 11 11 42 70 101 131 162 192 223 254 284 315 345 12 12 43 71 102 132 163 193 224 255 285 316 346 13…
- The following interest-bearing.promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.). Face Value: $1,280 Interest Rate : 7.7 Date of Note: Sept 18 Term of Note (days) : 130 Maturity Date : ? Maturity Value (in $) $? Date of Discount : Dec 11 Discount Period (days) : ? Discount Rate (%) : 11.2 Proceeds (in $): $? If you purchase $28,000 in U.S. Treasury Bills with a discount rate of 4.9% for a period of 26 weeks, what is the effective interest rate (as a %)? Round to the nearest hundredth percent.Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) Note: Do not round intermediate calculations. Round your final answers to the nearest cent. $ Face value (principal) 27,200 Rate of interest 9% Length of note 60 days Maturity value Date of note August 23 Date note discounted September 18 Discount period Bank discount Proceeds eckA company collects an honored note with a maturity date of 24 months from establishment, a 10%interest rate, and an initial loan amount of $30,000. Which accounts are used to record collection of thehonored note at maturity date?A. Interest Revenue, Interest Expense, CashB. Interest Receivable, Cash, Notes ReceivableC. Interest Revenue, Interest Receivable, Cash, Notes ReceivableD. Notes Receivable, Interest Revenue, Cash, Interest Expense