ya5johnsonyaHaespir ya5johnsonyaHaespir
  • 21-11-2016
  • Mathematics
contestada

A $15,000, 6 percent , 50-day note ,dated November 8, is discounted at 5 percent on November 28, the proceeds of the note would be?
A. $14,936,46
b. $ 15,610,64
c. $63,54
d. $15,061,98

Respuesta :

syed514
syed514 syed514
  • 23-11-2016
The answer is the D option.
Answer Link
saimmerchant saimmerchant
  • 29-03-2020

Answer:

D. $15061.98

Step-by-step explanation:

In order to calculate the proceeds we will using the following computation:

Principal + {Principal * Discounted rate * Frequency of a year on Maturity Date}

15,000 + {15,000 * 5% * (30/365)}

Hence, the proceeds of note would be $15,061.98

Answer Link

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