Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.)Face DiscountValue Rate (%)Date of TermNote (days)$78,0005May 652MaturityDate---Select---Bank Discount(in $)$Proceeds(in $)

Here given face value is $78000 Discount rate 5% Time is 52 days

Answered: Using ordinary interest, 360 days,…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) FaceValue DiscountRate (%) Date ofNote Term(days) MaturityDate Bank Discount(in $) Proceeds(in $) $78,000 5 May 3 52 select ___
Payment Number Amount of Payment 0|- 1 $378.24 2 $378.24 3 $378.24 4 $378.24 5 $378.24 6 $378.24 7 $378.24 8 $378.24 9 $378.24 10 $378.24 11 $378.24 12 $378.24 Amortization Table Interest for Period $80.00 $74.04 $67.95 $61.75 $55.42 $48.96 $42.37 $35.66 $28.80 $21.82 $14.69 $7.42 Portion to Principal Principal at End of Period $4000.00 $3701.76 $298.24 $304.20 $310.29 $316.49 $322.82 $329.28 $335.87 $342.58 $349.44 $356.42 $363.55 $370.82 $3397.56 $3087.27 $2770.78 $2447.96 $2118.68 $1782.81 $1440.23 $1090.79 $734.37 $370.82 $0.00
Calculate the simple interest and maturity value. (Do not round intermediate calculations. Round your answers to the nearest cent.) $ Principal 6,200 Interest rate 3% Time 12 mo. Simple interest Maturity value

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Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) Face Discount Value Rate (%) Date of Term Note (days) $78,000 5 May 6 52 Maturity Date ---Select--- Bank Discount (in $) $ Proceeds (in $)