Abe Corporation discounted a 120-day note with a maturity value of $8,000 dated June 8 at the Village Bank on September 2, at a discount rate of 9%. Use ordinary interest. How much did Abe receive?
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Abe Corporation discounted a 120-day note with a maturity value of $8,000 dated June 8 at the Village Bank on September 2, at a discount rate of 9%. Use ordinary interest. How much did Abe receive?
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- Jones Corporation accepted a $25,000, 8%, 120-day note on July 8. Jones discounted the note on September 4, at Rool Bank at 7%. What proceeds did Jones receive? Use ordinary interest.On July 18, Aui accepted a $15,000, 7¾%, 180-day note from Ryan. On October 5, Aui discounted the note at Brome Bank at 8¼%. What proceeds did Aui receive? Use ordinary interest.Alana Olsen borrowed $5,000 for 90 days from First Bank. The bankdiscounted the note at 7 percent.a. What proceeds did Olsen receive?b. What is the effective rate to the nearest basis point?
- On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $150,000. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.b. Determine the proceeds of the note, assuming the note is discounted at 10%.On January 26, Bella Co. borrowed cash from Conrad Bank by issuing a 120-day note with a face amount of $51,600. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 8%.$ b. Determine the proceeds of the note, assuming the note is discounted at 8%.$On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $63,600. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 5%.$fill in the blank 1 b. Determine the proceeds of the note, assuming the note is discounted at 5%.$fill in the blank 2
- On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $42,000. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 7%. $4 b. Determine the proceeds of the note, assuming the note is discounted at 7%.On May 15, Maynard Co. Borrowed cash from texas bank by issuing a 60 day note with a face amount $100,000. a. Determine the proceeds of the note. Assuming that the note carries an interest rate of 6%.b. Determine the proceeds of the note, assuming that the note is discounted at 6%On May 15, Franklin Co. borrowed cash from Dakota Bank by issuing a 90-day note with a face amount of $180,000. a. Determine the proceeds of the note, assuming that the note carries an interest rate of 8%. b. Determine the proceeds of the note, assuming that the note is discounted at 8%.
- On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 30- day note with a face amount of $74,400. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 5%.Nelson Co. issued a $80,000, 90-day, discounted note to Community Bank. The discount rate is 5%. At maturity, assuming a 360-day year, the borrower will pay how much?On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $45,600. Assume 360 days in a year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. b. Determine the proceeds of the note, assuming the note is discounted at 10%.
