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    Exam 7: Applications of Simple Interest
  5. Question
    A 90-Day Non-Interest-Bearing Note Issued on September 30, 2013 for $5,000
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A 90-Day Non-Interest-Bearing Note Issued on September 30, 2013 for $5,000

Question 30

Question 30

Short Answer

A 90-day non-interest-bearing note issued on September 30, 2013 for $5,000 was discounted at 5.75% on November 5, 2013. What were the proceeds of the note?

Correct Answer:

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