DIRECTIO The Joie de Vivre Co. received the promissory notes listed below during the last quarter of its calendar year: (1) (2) (3) Questions 29 through 40 are to be answered on the basis of the following infor- mation. Date 10/8 9/22 11/15 Face Amount $3,600 $8,000 $3,000 Terms 30 days 60 days 90 days Interest Rate 6% 7% Date Discounted 10/18 10/1 11/20 Discount Rate 9% 7% 8%
DIRECTIO The Joie de Vivre Co. received the promissory notes listed below during the last quarter of its calendar year: (1) (2) (3) Questions 29 through 40 are to be answered on the basis of the following infor- mation. Date 10/8 9/22 11/15 Face Amount $3,600 $8,000 $3,000 Terms 30 days 60 days 90 days Interest Rate 6% 7% Date Discounted 10/18 10/1 11/20 Discount Rate 9% 7% 8%
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
Related questions
Question
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34 &35 please since it's part of the same question. I got the answers, but I need an explanation. I ALWAYS leave a thumbs up for CORRECT answers. Thanks!!
Transcribed Image Text:DIRECTIONS: Questions 29 through 40 are to be answered on the basis of the following infor-
mation.
The Joie de Vivre Co. received the promissory notes listed below during the last quarter
of its calendar year:
(1)
(2)
(3)
29.
Date
10/8
9/22
11/15
Face
Amount
$3,600
$8,000
$3,000
Terms
30 days
60 days
90 days
What is the due date for the first note?
A. 12/31
B. 11/7
31. What is the maturity value of the first note?
B. $3,630
(A. $3,600
C. 12/7
30. What interest will be due when the first note matures?
A. $3
B. $3,600
C. $30
32. What is the discount period for the first note?
One fiscal year
20 days
Interest
Rate
33. What is the due date for the second note?
A. 12/21
(B 11/21
6%
7%
C. $0
Date
Discounted
10/18
10/1
11/20
B. 10 days
D.
35. What is the maturity value of the second note?
A. $8,000
B $8,080
One month
C. 10/21
34. What interest will be due when the second note matures?
A. $60
B. $800.00
C. $8.00
C. $8,800
D.
D.
Discount
Rate
10/31
$0
9%
7%
8%
D. $3,603
D. 1/21
$80.00
D. $8,008
DJ
29.
30.
31.
32. C
B
33.
34.
35.
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