Question
Date of Note March 11, length of note 200 days, Date of discount, June 28. What is the maturity date and the discount period, no leap years, exact days
Answers
Rex Corporation accepted a $5,000 8%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 9%. What is the note's dicount period?
Rex Corporation accepted a $5,000 8%, 120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 9%. What is the note's maturity value?
Related Questions
what is the discount period, bank discount, and proceeds on 25000.00 at 9% for 60 days, date of note...
The following note was discounted at 16%. Find (a) the discount period, (b) the discount, and (c) th...
A 7%, 60-day note was discounted 15 days before the maturity date. If the discount rate was 5.5% and...