A non-interest bearing promissory note has a face value of $950. Find the proceeds of this note if it is discounted 3½ years before its maturity date at 8% compounded quarterly. Select one: a. $719.98 b. $771.65 c. $657.22 d. $725.67
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- For an interest-bearing promissory notes, compute the sale proceeds, when the issue amount is $18,200, term of the note is 4 1/2 years with interest rate 9.45% compounded monthly, the date of sale before maturity is 1.7 years with a discount rate 15% compounded quarterly. Select one: O a. 21634.97 Ob. 21642.76 O c. 21580.47 d. noneA non-interest bearing note has a face value of $3000. The note is due 96 days from today. Money is currently worth 8% per annum. Find the present value of the note. Select one: a. $2938 b. $3063 c. $2778 d. $2923A promissory note has a face value of $5175.00 and it has a date of issue of April 2 this year. The term is for 5 months. The rate of interest is 6.75%. What is the maturity value of the note? Select one: O A. $5334.20 O B. $5444.30 O C. $5342.30 O D. $5234.30 O E. $5324.30
- Assuming a 360-day year, when a $14,700, 90-day, 12% interest-bearing note payable matures, total payment will be ______ .Round your answer to the nearest whole dollar. a.$1,764 b.$15,141 c.$441 d.$16,464The interest on a $27000, 15%, 1-year note receivable is $31050. $228. $270. $4050.An interest-bearing note for 118 days at 6.4% p.a. simple interest has a face value of $4053. If the note is settled in 50 days at a discounted rate of 12.5% p.a., calculate the proceeds. Write your answer rounded to two decimal places. Answer:
- Assuming a 360-day year, when a $11,918, 90-day, 10% interest-bearing note payable matures, total payment will be a.$13,110 b.$1,192 c.$298 d.$12,216Assuming a 360-day year, when a $11,200, 90-day, 5% interest-bearing note payable matures, the total payment will be Oa. $560 Ob. $140 Oc. $11,760 Od. $11,340 0 0 0 0The interest charged on a $222000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $3330. $1110. $13320. $6660.
- Select the correct answer and explain What is the discount to a promissory note with a face value of $ 27,350? Consider that it is negotiated with the 6.25% annual simple discount, five months before expiring. a. $ 701.25 b. $ 721.66 c. $ 680.00 d. $ 712.21A $12,000 non-interest-bearing promissory note is discounted at 6% compounded monthly, three years before maturity. What are the proceeds from the sale of the note?A promissory note is a written statement agreeing to pay a sum of money either on demand or at a definite future time. When a note is purchased for its present value at a given interest rate, the note is said to be discounted and the interest rate is called the discount rate. Suppose a $10,000 note due 7 years from now is sold to a financial institution for $5600. What is the nominal discount rate with quarterly compounding? The nominal rate is %. (Type an integer or decimal rounded to two decimal places as needed.)