Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table) Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Face value (principal) $ 27,200 Rate of interest 9% Length of note 60 days Maturity value Date of note August 23 Date note discounted September 18 Discount period Bank discount Proceeds

Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table) Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Face value (principal) $ 27,200 Rate of interest 9% Length of note 60 days Maturity value Date of note August 23 Date note discounted September 18 Discount period 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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Find the compound amount for the following certificate of deposit. Assume daily compounding. Amount Deposited Interest Rate Time in Years Compound Amount $3000 4% 2 $ Click the icon to view the compound interest table for time deposit accounts, Complete the table below. Amount Interest Deposited Rate $3000 4% 2 (Simplify your answer. Round to the nearest cent as needed.) Table for Time Deposits Accounts Compounded Daily Number of Years 1 2 3 4 Time Compound in Years Amount 50 10 Compound Interest for Time Deposit Accounts Compounded Daily 1% 2% 3% 1.01005003 1.02020078 1.03045326 1.02020106 1.04080963 1.06183393 1.03045411 1.06183480 1.09417024 1.04081020 1.08328469 1.12749129 1.05127038 1.10516789 1.16182708 1.22138937 1.28400343 1.10516940 1.22139607 1.34984217 1.49179200 1.64866481 1.17350058 1.22138603 Print 4% 5% 1.04080849 1.05126750 1.08328232 1.10516335 1.12748944 1.16182231 Done Number of Years 1 3 4 5 10 . X -
Check my wor Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. 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 Rate of Length of note Date note (principal) $26, 300 interest Maturity value Date of note discounted 9% 65 days Discount period Bank discount Proceeds March 17 April 20 days 24 $4 hp
Be clear.
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $200 balance, 17%, $50 payment (a) previous balance method$ (b) adjusted balance method$ (c) average daily balance method
Compute bank discount using (A) ordinary interest, (B) proceeds, and (C) effective interest rate to the nearest hundredth. Do not round denominator in your calculation. Face Value Discount Rate Time in Days $9,000 14% 110
Answer
Instructions: Fill in the missing information. 1. Missing Dates: Encode the date in this format: mm/dd 2. Monetary values: Round-off the monetary figures to two decimal places Use 360 days=1 year in computing for interest Principal Interest Rate Date of Note Term Maturity Date Maturity Value Date of Discounting Discount Period Discount Rate Disount 55,000 13.50% 06/17 69 days ? ? 07/22 (?) days 13.70% ? Net proceeds Accrued Interest Carrying Amount Gain/Loss on Discounting ? ? ? ? Thank you for helping me.
Mobile Co. issued a $49,712, 60-day, discounted note to Guarantee Bank. The discount rate is 12%. At maturity, assuming a 360-day year, the borrower will pay: Select the correct answer. a-$49,712 b-$48,718 c-$43,747 d-$50,706
The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.) Face Value Interest Rate (%) Date of Note Term of Note (days) Maturity Date Maturity Value (in $) $750 141 June 9 135 ---Select--- * $ 794.96 2 Date of Discount Discount Period (days) Sept. 5 × Discount Rate (%) 15.5 $ tA Proceeds (in $)
25. The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.) FaceValue InterestRate (%) Date ofNote Term ofNote (days) MaturityDate MaturityValue(in $) $2,200 12 Mar. 7 80 $ Date ofDiscount DiscountPeriod (days) DiscountRate (%) Proceeds(in $) Apr. 15 19 $

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