Drill Problem 11-2 (Algo) [LU 11-1 (2)] Complete the following table for the simple discount notes. Use the ordinary interest method. (Round your answers to the nearest cent.) Amount due at maturity $ 4,500 Discount rate 6.25% Time 200 days Bank discount Proceeds
Drill Problem 11-2 (Algo) [LU 11-1 (2)] Complete the following table for the simple discount notes. Use the ordinary interest method. (Round your answers to the nearest cent.) Amount due at maturity $ 4,500 Discount rate 6.25% Time 200 days Bank discount Proceeds
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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Question
![Drill Problem 11-2 (Algo) [LU 11-1 (2)]
Complete the following table for the simple discount notes. Use the ordinary interest method. (Round your answers to the nearest
cent.)
Amount due
at maturity
$
4,500
Discount rate
6.25%
Time
200 days
Bank discount
Proceeds](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7b49ac0-4a4f-4eff-a24d-13d7bd87772f%2F42a14289-786e-42fa-be62-5fa8df0b4fd0%2Fqfnt7m_processed.png&w=3840&q=75)
Transcribed Image Text:Drill Problem 11-2 (Algo) [LU 11-1 (2)]
Complete the following table for the simple discount notes. Use the ordinary interest method. (Round your answers to the nearest
cent.)
Amount due
at maturity
$
4,500
Discount rate
6.25%
Time
200 days
Bank discount
Proceeds
![Drill Problem 11-6 (Algo) [LU 11-2 (1, 2)]
Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 10%. 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)
$
29,000
Rate of
interest
8%
Length of
note
50 days
Maturity
value
Date of
note
February 5
Date note
discounted
March 7
Discount
period
Bank discount
Proceeds](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7b49ac0-4a4f-4eff-a24d-13d7bd87772f%2F42a14289-786e-42fa-be62-5fa8df0b4fd0%2Flat7ry8_processed.png&w=3840&q=75)
Transcribed Image Text:Drill Problem 11-6 (Algo) [LU 11-2 (1, 2)]
Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 10%. 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)
$
29,000
Rate of
interest
8%
Length of
note
50 days
Maturity
value
Date of
note
February 5
Date note
discounted
March 7
Discount
period
Bank discount
Proceeds
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