Determine the maturity date and the amount at maturity (FMV), and the simple commercial interest of each of the following promissory notes (Use the table for the dates) Nominal value Initial date Term Rate a) $ 33,500 May 5 3 months 9% b) $ 82,000 March 15 90 days 8.75% c) $ 52,310 July 31 5 months 7.5% d) $184,000 September
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Determine the maturity date and the amount at maturity (FMV), and the simple commercial interest of each of the following promissory notes (Use the table for the dates)
Nominal value Initial date Term Rate
a) $ 33,500 May 5 3 months 9%
b) $ 82,000 March 15 90 days 8.75%
c) $ 52,310 July 31 5 months 7.5%
d) $184,000 September 8 150 days 11%
NOTE: When referring to months, the expiration date is set on the same day of the initial month. Example: Starts on May 7 + three months = August 7.
Note:
The original exercise is in the image, it is in Spanish, but it is easy to understand.
Another note:
Please put the procedure explained, thank you very much for your attention bartleby expert!
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