Personal Finance, Student Value Edition (8th Edition) (The Pearson Series in Finance)
8th Edition
ISBN: 9780134730851
Author: Arthur J. Keown
Publisher: PEARSON
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Chapter 17, Problem 2DC1
Summary Introduction
To determine:
Planning steps and list to ensure planning of D and M
Introduction:
Financial events of life are the important events where the planning of finances is very important. Planning of finances refers to the planning for future and makes the days comfortable in life. It involves the management of income which you earning right now and planning the savings so that the future is financially safe.
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Students have asked these similar questions
The maturity value of an $35,000 non-interest-bearing, simple discount 4%, 120-day note is:
Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $18,905 at 10% for 4 years. Use ordinary interest as needed.
Calculate the simple interest note proceeds.
Calculate the simple discount note proceeds.
What you're solving for
Solving for maturity value, discount period, bank discount, and proceeds of a note.
What's given in the problem
Face value:
$55300
Rate of interest:
10%
Length of note:
95
days
Date of note: August 23rd
Date note discounted: September 18th
Bank discount rate:9 percent
Chapter 17 Solutions
Personal Finance, Student Value Edition (8th Edition) (The Pearson Series in Finance)
Ch. 17 - Prob. 1PACh. 17 - Prob. 2PACh. 17 - Prob. 3PACh. 17 - Prob. 4PACh. 17 - Prob. 5PACh. 17 - Prob. 6PACh. 17 - Prob. 7PACh. 17 - Prob. 8PACh. 17 - Prob. 1DC1Ch. 17 - Prob. 2DC1
Ch. 17 - Prob. 3DC1Ch. 17 - Prob. 4DC1Ch. 17 - Prob. 5DC1Ch. 17 - Prob. 6DC1Ch. 17 - Prob. 7DC1Ch. 17 - Prob. 8DC1Ch. 17 - Prob. 9DC1Ch. 17 - Prob. 10DC1Ch. 17 - Prob. 11DC1Ch. 17 - Prob. 12DC1Ch. 17 - Prob. 13DC1Ch. 17 - Prob. 1DC2Ch. 17 - Prob. 2DC2Ch. 17 - Prob. 3DC2Ch. 17 - Prob. 4DC2Ch. 17 - Prob. 5DC2Ch. 17 - Prob. 6DC2Ch. 17 - Prob. 7DC2
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