Firdaus received a 60-day promissory note with a simple interest rate of 8% and a maturity value of RM4,560. The maturity date of the note was 15th March 2015.Find a) The date of the note b) The face value of the note using the Banker's Rule
Firdaus received a 60-day promissory note with a simple interest rate of 8% and a maturity value of RM4,560. The maturity date of the note was 15th March 2015.Find a) The date of the note b) The face value of the note using the Banker's Rule
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Firdaus received a 60-day promissory note with a simple interest rate of 8%
and a maturity value of RM4,560. The maturity date of the note was 15th March
2015.Find
a) The date of the note
b) The face value of the note using the Banker's Rule
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