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Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is December 31, 2021, and the principal and interest are due at maturity. For each, determine the proceeds
Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is December 31, 2018, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting the note. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Note Date of Note Discount Rate 12% Proceeds Received 12% Note Face Value 60,000 60,000 60,000...
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...
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Note Principal Rate Term a. July 10 $7,200 94 90 days b. April 25 12,000 5 120 days May 19 11,200 7% 120 days d June 10 5.400 1145 days e. October 29 30,000 6% 75 days Maturity Date Month Day Interest Check Previous Save Answers
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Round to the nearest dollar.) Date of Interest Principal Rate Note Term 90 days $7,200 а. July 10 9% 5% 120 days b. April 25 12,000 7% 120 days C. May 19 11,200 45 days d. June 10 5,400 11% 75 days e. October 29 30,000 6%
Use ordinary interest: Principal $70,000 Rate of Interest: 11% Time: 90 days Maturity Value: A Date note made Mar 10 Date note discounted: April 15 discount period: B proceeds: C note to be discounted at 10%