Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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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 $) |
---|---|---|---|---|---|
$1,210 | 7.9 | Sept. 17 | 130 | ---Select--- January February March April May June July August September October November December | $ |
Date of Discount |
Discount Period (days) |
Discount Rate (%) |
Proceeds (in $) |
||
Dec. 10 | 11.3 | $ |
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