Question

A 10 month promissory note for #30000 with interest at 6% Per annum was written today.find it's value 4 months from today if money is worth 5% per annum
V = Vo + Vo*r*t.
V = 30,000 + 30,000*(0.05/12)*4.

Related Questions

Schell Publishing received a $70,000 promissory note at 12% ordinary interest for 60 days from one... Find (a) the exact interest and (b) the ordinary interest. Round answers to the nearest cent Find t... On March 30, Wade accepted a nine-month $32,250 promissory note at 7% interest from one of his clien... Find the value to which #30000 will amount in 5 years at 6% per annum simple interest.