The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $ 40 , 000 , interest rate is 12 % for 95 days. After 70 days, note was discounted at the rate 15 % . The date of the note is 12 September.

Question

Want to see the full answer?

Answer 1

Question

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

H0: mean egg weight is the same in all three diets HA: there is at least one difference among the means

This is advanced mathematics question that need detailed solutions

Question: Let F be a field. Prove that F contains a unique smallest subfield, called the prime subfield, which is isomorphic to either Q or Zp for some prime p. Instructions: • Begin by identifying the identity element 1 € F. • Use the closure under addition and inverses to build a subring. • • • Show that either the map ZF or Q →F is an embedding. Prove minimality and uniqueness. Discuss the characteristic of a field and link it to the structure of the prime subfield.

Answer 2

Question

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 6

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 7

Chapter 10.III, Problem 28RE

(a)

To determine

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 8

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 9

(b)

To determine

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 10

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 11

(c)

To determine

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 15

Ch. 10.I - Find the amount of interest on each of the...Ch. 10.I - Joe Hale goes to a credit union and borrows...Ch. 10.I - Prob. 3TIE Ch. 10.I - Prob. 4TIE Ch. 10.I - a. A loan was made on April 4 and had a due date...Ch. 10.I - a. What is the maturity date of a loan taken out...Ch. 10.I - Prob. 1RE Ch. 10.I - Prob. 2RE Ch. 10.I - Prob. 3RE Ch. 10.I - Prob. 4RE

The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $ 40 , 000 , interest rate is 12 % for 95 days. After 70 days, note was discounted at the rate 15 % . The date of the note is 12 September.

Solution Summary: The author calculates the maturity date of a promissory note that is received by Pinnacle manufacturing whose face value is 40,000.

Concept explainers

Videos

To calculate: The maturity date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

To calculate: The maturity value of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

To calculate: The discount date of promissory note that is received by Pinnacle manufacturing whose face value is $40,000, interest rate is 12% for 95 days. After 70 days, note was discounted at the rate 15%. The date of the note is 12 September.

Want to see the full answer?

Chapter 10 Solutions