Warren borrowed $14,000 on a noninterest-bearing, simple discount, 4.5% 60 day note. Assume ordinary interest. Maturity value (format as $12,345) = Bank's discount (format as $12,345) = Warren's proceeds (format as $12,345) = Effective interest rate to the nearest 100th (format at 12.34%) =

Warren borrowed $14,000 on a noninterest-bearing, simple discount, 4.5% 60 day note. Assume ordinary interest. Maturity value (format as $12,345) = Bank's discount (format as $12,345) = Warren's proceeds (format as $12,345) = Effective interest rate to the nearest 100th (format at 12.34%) =

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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