Fill in the missing information 1. Find the missing information 2. Monetary Value: Round up the monetary value to the next whole value Use 360 days = 1 year in computing for interest The following information pertains to the discounting of promissory note received by the seller: Principal Date of note Interest Rate Term of note Maturity Date Maturity Value Note was discounted Discount Rate 400,000 09/12 12% 95 days 12/16 412,666.67 after 70 days 15% Term of discounting Discount date Discount Amount Net proceeds from discounting Carrying amount of note Gain (loss) from discounting with recourse ? ? 408,368.06 ? (965.28)
Fill in the missing information 1. Find the missing information 2. Monetary Value: Round up the monetary value to the next whole value Use 360 days = 1 year in computing for interest The following information pertains to the discounting of promissory note received by the seller: Principal Date of note Interest Rate Term of note Maturity Date Maturity Value Note was discounted Discount Rate 400,000 09/12 12% 95 days 12/16 412,666.67 after 70 days 15% Term of discounting Discount date Discount Amount Net proceeds from discounting Carrying amount of note Gain (loss) from discounting with recourse ? ? 408,368.06 ? (965.28)
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
100%
Fill in the missing information
1. Find the missing information
2. Monetary Value: Round up the monetary value to the next whole value
Use 360 days = 1 year in computing for interest
The following information pertains to the discounting of promissory note received by the seller:
Principal | Date of note | Interest Rate | Term of note | Maturity Date | Maturity Value | Note was discounted | Discount Rate |
400,000 | 09/12 | 12% | 95 days | 12/16 | 412,666.67 | after 70 days | 15% |
Term of discounting | Discount date | Discount Amount | Net proceeds from discounting | Carrying amount of note | Gain (loss) from discounting |
with recourse | ? | ? | 408,368.06 | ? | (965.28) |
Thank you for helping me :D
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Essentials Of Investments](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781260013924/9781260013924_smallCoverImage.jpg)
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
![FUNDAMENTALS OF CORPORATE FINANCE](https://www.bartleby.com/isbn_cover_images/9781260013962/9781260013962_smallCoverImage.gif)
![Financial Management: Theory & Practice](https://www.bartleby.com/isbn_cover_images/9781337909730/9781337909730_smallCoverImage.gif)
![Foundations Of Finance](https://www.bartleby.com/isbn_cover_images/9780134897264/9780134897264_smallCoverImage.gif)
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
![Fundamentals of Financial Management (MindTap Cou…](https://www.bartleby.com/isbn_cover_images/9781337395250/9781337395250_smallCoverImage.gif)
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Corporate Finance (The Mcgraw-hill/Irwin Series i…](https://www.bartleby.com/isbn_cover_images/9780077861759/9780077861759_smallCoverImage.gif)
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education