Question

Check my wo Descriptors are proved below fc six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is Dember 317 18, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on disconting there. Do not round Intermediate calculations. Round your final answers to the nearest whole dollar.) Note Discount Rate Proceeds Received 109 Note Face Value $ 70,000 70,000 70,000 96,000 96.000 96,000 Dale of Note 3/31/2018 3/31/2018 3/31/2018 6/30/2018 6/30/2018 6/30/2018 Lorst Rate 8% 8% 8% 5% 5% 5% Date Discounted 6/30/2018 9/30/2018 9/30/2018 10/31/2018 10/31/2018 11/30/2018 10% 12 10%

Answer 1

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ANS Amount in Note Proceeds Recoivech 70,490 2 72345 3 4 96,760 96432 $97580 6 Proterh Reseed li-i)= 7y200-37/0=0ygo Worin NokNote Pnncipa t Interest (imatuuity Yalue -0000 4207y200 Dir count Yallu - Matunity Value Discount rtat K Dircunt Perdod 7y200-1e55 = $72345 Nok-2 Poceds Recerved (i-ij 474240 Marurity value *

З/2 $1855 74200 к о-10х сi) Distount Varue АNok-3: Рзoсeedь Recenyed &-i): 200 2226 $1974 200 11 в Малинity velue - 74200 хо+12 к 312 0) Dисovaf Yum = 2226 * Nlоg-y: PYoсе d Rereved (i-5) : $98усо — 4 1640 $96,760 12 Voлиe - 96000 + (9600 X о-05 к 6I2) mahunity 96000 2y00 $98у06 ru) Discavnt Yanue = 98400 ко-10 к Y/2 = 16y0 ю лок-5 : proceeds Recervd (i-i) : = $98400-1968 = 96432 $98,yo0 ) талилку уalue 2 1963 - 98y00 ко-12 X 4/2 й) Dйn Vaus

ANote 6 Proceeds Received (i-n) = ¢98yco - 4 £20 = $97580 $9eyoo c2j maturny Yalue U Ditcount Value

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