Ask a New Question

A 7%,6O day note was discounted at 15 days before the maturity date. If the discount rate was 5.5% and the proceeds received were $ 997,77,find

a)the amount of discount that was charged
b)face vaalue

what is the formula

Ask a New Question or answer this question.

Similar Questions

A 7%,6O day note was discounted at 15 days before the maturity date. If the discount rate was 5.5% and the proceeds received
1. 0 answers
Ahmad received a 60 days, 10% interest bearing note which is dated on 3 April 2023. Then, 30 days before maturity date, he went
1. 1 answer
On April 1, 2013, Ringo Company borrowed $20,000 from its bank by using a 9%, 12 month note, with the interest to be paid on the
1. 1 answer
A note receivable Mild Max Cycles discounted with recourse was dishonored on its maturity date. Mild Max would debit:A. A loss
1. 1 answer

more similar questions