Vijay Ron Prentice bought goods from Shelly Katz. On April 16, Shelly gave Ron a time extension on his bill by accepting a $3,025, 9%, 160-day note. On July 24, Shelly discounted the note at Roseville Bank at 11%. (Use Days in a year table.)What proceeds does Shelly Katz receive?Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.Proceeds received

Given,Principal (P) = $3,025Rate of interest (R) = 9%Time (T) = 160 / 360 = 0.4305I = P* R *…

Answered: Ron Prentice bought goods from Shelly…

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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ron prentice bought goods from shelly katz. on may 8, shelly gave ron a time extension on his bill by accepting a $3,000, 8%, 180-day note. on august 16, shelly discounted the note at roseville bank at 9%. (use days in a year table.) what proceeds does shelly katz receive? (use 360 days a year. do not round intermediate calculations. round your answer to the nearest cent.): Proceeds received: ??
Ron Prentice bought goods from Shelly Katz. On Feb. 26, Shelly gave Ron a time extension on his bill by accepting a $4,400, 6%, 165- day note. On May 10, Shelly discounted the note at Roseville Bank at 10%. (Use Days in a year table.) What proceeds does Shelly Katz receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent. Proceeds received
Ron Prentice bought goods from Shelly Katz. On Aug. 15, Shelly gave Ron a time extension on his bill by accepting a $3,200, 9%, 165-day note. On Nov. 2, Shelly discounted the note at Roseville Bank at 8%. (Use Days in a year table.) What proceeds does Shelly Katz receive? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Proceeds received
Ron Prentice bought goods from Shelly Katz. On Feb. 26, Shelly gave Ron a time extension on his bill by accepting a $4,800, 6%, 155- day note. On May 18, Shelly discounted the note at Roseville Bank at 11%. (Use Days in a year table.) What proceeds does Shelly Katz receive? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Proceeds received
Ron Prentice bought goods from Shelly Katz. On April 5, Shelly gave Ron a time extension on his bill by accepting a $3,200, 9%, 155- day note. On July 9, Shelly discounted the note at Roseville Bank at 11%. (Use Days in a year table.) What proceeds does Shelly Katz receive? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Proceeds received %24
Ron Prentice bought goods from Shelly Katz. On Sept. 14, Shelly gave Ron a time extension on his bill by accepting a $4,360, 6%, 150-day note. On Dec. 18, Shelly discounted the note at Roseville Bank at 7%. (Use Days in a year table.) What proceeds does Shelly Katz receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.
On May 12, Scott Rinse accepted an $9,500, 11%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 10%. (Use Days in a year table.) What proceeds does Scott receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent. Proceeds received
On May 12, Scott Rinse accepted an $11,000, 14%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 13%. (Use Days in a year table.) What proceeds does Scott receive? (Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.) Proceeds received
On May 12, Scott Rinse accepted an $12,000, 12%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 11%. (Use Days in a year table.) What proceeds does Scott receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.
On May 12, Scott Rinse accepted an $4,500, 11%, 90-day note for a time extension of a bill for goods bought by Ron Prentice. On June 12, Scott discounted the note at Able Bank at 10%. What proceeds does Scott receive? Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.
On August 2, Jun Co. receives a $6,100, 90-day, 12.5% note from customer Ryan Albany as payment on his $6,100 account receivable. Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.)
Darcy holds a 200 day note from Brenda. This note was given by Brenda to Darcy since the former owes the latter $69,000. The simple interest note is dated Dec. 28 and carries an interest of 8%. The note is then sold by Darcy to a bank on March 17 at a discount rate of 12%. How much profit did the bank make? Group of answer choices $2,609,96 $2,966.69 $2,906.69 $2,609.69

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