Multiple Choice
A 6-month non-interest bearing promissory note with a face value of $2500 is taken out on Jan.5,2007.What are the proceeds on Feb.12,2007 if the note is discounted using a simple interest rate of r = 10%?
A) $2380.02
B) $2403.85
C) $2405.75
D) $2497.40
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q15: Which of the following statements is (are)true
Q16: A loan of $12,000 is taken out
Q17: A loan of $P is taken out.It
Q18: What rate of simple interest,r,is equivalent to
Q19: Mary deposits $15,000 in a bank account
Q21: What is the maturity value of the
Q22: What is X,if the declining balance method
Q23: A wholesale electrical supply store is offering
Q24: A person owes $4000 ten (10)months from
Q25: Mr.A lends $20,000 to Mr.B on May