Multiple Choice
A $15,000, 6%, 50-day note dated November 8, is discounted at 5% 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
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q87: Jill Corporation accepted a $16,000 note on
Q88: The effective rate of a $25,000 non-interest-bearing
Q89: Maturity value of a non-interest-bearing note is:<br>A)Less
Q90: Jill Jones borrowed $18,000 for 180 days
Q91: Match the following terms with their definitions.<br>-Maturity
Q93: Ray Furniture wants to buy a dining
Q94: J. Ryan discounts an 80-day note for
Q95: Compute bank discount using (A)ordinary interest,
Q96: Juan-Solez, a prominent painter, takes out a
Q97: Lines of credit provide companies with additional