The payee on a three-month $2700 note earning interest at 4% wishes to sell the note to
Question:
The payee on a three-month $2700 note earning interest at 4% wishes to sell the note to raise some cash. What price should she be prepared to accept for the note (dated May 19) on June 5 in order to yield the purchaser a 7% rate of return?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
Legal due date August 19 3 days Augu...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
Question Posted:
Students also viewed these Mathematics questions
-
The payee on a three-month $2700 note earning interest at 8% wishes to sell the note to raise some cash. What price should she be prepared to accept for the note (dated May 19) on June 5 in order to...
-
A florist buys potted poinsettias from a nursery at $15 each less series discounts of 40% and 10%. The florist prices her stock to allow for overhead of 55% of cost and an operating profit of 20% of...
-
In January, the board of directors of the Montgomery Corporation, one of Canada's largest retail store chains, was having its regularly scheduled meeting to establish and declare the next quarterly...
-
Ten thousand dollars is deposited in a savings account at 4.6% interest compounded continuously. When will the balance triple? O within a year of investment. O In 10 years approximately. none of the...
-
A steam radiator (used for space heating) has a volume of 20 L and is filled up with steam at 200 kPa and 250oC. Now the inlet and exit ports are closed. As the radiator cools down to a room...
-
Old photographic plates were made of glass with a light sensitive emulsion on the front surface. This emulsion was somewhat transparent. When a bright point source is focused on the front of the...
-
Following is a partial performance report: Required: Provide the missing information. Description Budget Actual Wages $5,000 $5,200 Store Rent 6,000 ? Utilities Expense ? 1,200 Variance $ ? 200 F 50 U
-
Identify the type of fraud being committed and explain your reasons. In 1997, Bill Eaves worked in the purchasing department of Mavis County. In 2000, Eaves was promoted to assistant county...
-
Audit scope - March2016. 9 Search X AutoSave Off SMS 421 Assignment 2 Spreadsheet - Protected View v File Home Insert Page Layout Formulas Data Review View Automate Help Acro PROTECTED VIEW Be...
-
ZED plc manufactures one standard product, which sells at ?10. You are required to:(a) Prepare from the data given below, a break-even and profit?volume graph showing the results for the six months...
-
A six-month note dated June 30 for $2900 bears interest at 8%. Determine the proceeds of the note if it is discounted at 4.75% on September 1.
-
A six-month non-interest-beating note issued on September 30, 2016 for $3300 was discounted at 5.25% on December 1. What were the proceeds of the note?
-
Junior bought some stock several years ago for $8,000. He is thinking of selling it and has 2 offers. His broker told him he could sell the stock for $8,300 and would have to pay a $600 commission,...
-
The following schedule presents the beginning inventory, purchases and sales for Evan Corporations major product during the month of May. The company uses the perpetual approach only for units of...
-
You are required to note down on a weekly basis the activities that you personally engaged in , the lessons learned and the challenges you faced in relation to some of the topics below: - Prepare and...
-
The following facts relate to the firm ABC Pty Ltd: 1)the base wage rate for the workers is $12 per hour 2)employees are entitled to four weeks annual leave 3)sick leave entitlement is five days on...
-
Bob and Sally, unmarried taxpayers, each owned 50% of Lostalot, Inc., an S corporation. The corporation had a $50,000 operating loss for the tax year ending December 31, 2023. As of December 31,...
-
Introduce and explain an option strategy in funds. Give an example using an actual company trading on the TSX. use any references
-
1. Color blindness is a gender-linked inherited condition that is much more common among men than women. Suppose that 8% of all men and .5% of all women are color-blind. A person is chosen at random...
-
1) The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have a) An inelastic demand b) An elastic demand c) A demand curve that is...
-
Refer to Activity 2 on page 21. a. Repeat the activity using a population proportion of 0.60: Take at least five samples of size 10 each; observe how the sample proportions of successes vary around...
-
The General Social Survey asked, in 2012, whether you would commit suicide if you had an incurable disease. Of the 3112 people who had an opinion about this, 1862, or 59.8%, would commit suicide. a....
-
An article in the Journal of American College Health reports that, in a survey of 1845 college students from a large, southeastern public university, 27% were at risk for at least one sleep disorder,...
-
Indicate whether the following accounts would be classified as either Selling Expenses or General & Administrative Expenses on a multi-step income statement? Group of answer choices Rent - Office...
-
What is the journal entry recorded on a not-for-profit hospital's books to reclassify the current portion of a long-term debt? Multiple choice question. Debit Mortgage Payable; Credit Current Portion...
-
A retainer fee received from a client for future legal representation is an example of a(n) a. accrued revenue Ob. accrued expense Oc. unearned revenue Od. prepaid expense
Study smarter with the SolutionInn App