Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary Interest method. (Use Days in.a year table) (Do not round intermediate calculations. Round your final answers to the nearest cent) Bank discount Date of Rate of Interest Length of note Maturity value Date note discounted Face value Discount perlod Proceede (principal) note 60,600 00 days May 13 ] days June 4

Calculate the due date, interest due, and maturity value of the following notes:                                         Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due Maturity Value   a. 24-Apr $70,000 3% 60 days         b. 13-Jul 30,000 5% 120 days         c. 9-Aug 40,000 4% 45 days         d. 12-Sep 60,000 8% 90 days         e. 5-Nov 50,000 6% 30 days

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Check my wor Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value Rate of Length of note Date note (principal) $26, 300 interest Maturity value Date of note discounted 9% 65 days Discount period Bank discount Proceeds March 17 April 20 days 24 $4 hp

Calculate the due date, interest due, and maturity value of the following notes:                                         Date of Note Face Amount Interest Rate Term of Note Due Date Interest Due Maturity Value   a. 24-Apr $70,000 3% 60 days         b. 13-Jul 30,000 5% 120 days         c. 9-Aug 40,000 4% 45 days         d. 12-Sep 60,000 8% 90 days         e. 5-Nov 50,000 6% 30 days

Compute bank discount using (A) ordinary interest, (B) proceeds, and (C) effective interest rate to the nearest hundredth. Do not round denominator in your calculation.   Face Value Discount Rate Time in Days $9,000 14% 110

Amortize Discount by Interest Method On the first day of its fiscal year, Ebert Company issued $23,000,000 of 5-year, 10% bonds to finance its operations. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 12%, resulting in Ebert receiving cash of $21,307,304. The company uses the interest method. a. Journalize the entries to record the following: 1. Sale of the bonds. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Cash 21,307,304 Discount on Bonds Payable 1,692,696 Bonds Payable v 23,000,000 Feedback Check My Work 2. First semiannual interest payment, including amortization of discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. Interest Expense v Discount on Bonds Payable v Cash v Feedback Check My Work

Determine the due date and the amount of interest due at maturity on the following notes:   Date of Note Face Amount Interest Rate Term of Note a. January 10* $40,000      5% 90 days     b. March 19 18,000     8  180 days     c. June 5 90,000     7  30 days     d. September 8 36,000     3  90 days     e. November 20 27,000     4  60 days     *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest a.   $fill in the blank 2 b.   fill in the blank 4 c.   fill in the blank 6 d.   fill in the blank 8 e.   fill in the blank 10

The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.) Face Value Interest Rate (%) Date of Note Term of Note (days) Maturity Date Maturity Value (in $) $750 141 June 9 135 ---Select--- * $ 794.96 2 Date of Discount Discount Period (days) Sept. 5 × Discount Rate (%) 15.5 $ tA Proceeds (in $)

25. The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.)   FaceValue InterestRate (%) Date ofNote Term ofNote (days) MaturityDate MaturityValue(in $) $2,200 12 Mar. 7 80                  $     Date ofDiscount DiscountPeriod (days) DiscountRate (%) Proceeds(in $)   Apr. 15 19 $