Calculate the cost of discounting a $100,000 bankers' acceptance if it is due in 90 days and
Question:
Calculate the cost of discounting a $100,000 bankers' acceptance if it is due in 90 days and is sold at $97,915. Ignore bank fees.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 88% (9 reviews)
Effective annual yield 892 ...View the full answer
Answered By
David Muchemi
I am a professional academic writer with considerable experience in writing business and economic related papers. I have been writing for my clients who reach out to me personally after being recommended to me by satisfied clients.
I have the English language prowess, no grammatical and spelling errors can be found in my work. I double-check for such mistakes before submitting my papers.
I deliver finished work within the stipulated time and without fail. I am a good researcher on any topic especially those perceived to be tough.
I am ready to work on your papers and ensure you receive the highest quality you are looking for. Please hire me to offer my readily available quality service.
Best regards,
4.60+
27+ Reviews
61+ Question Solved
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
Question Posted:
Students also viewed these Business questions
-
Berry Company is an architectural firm located in Detroit, Michigan. The company works with small and medium-size construction businesses to prepare building plans according to client contract. Berry...
-
Stillwater Designs is expanding its market by becoming an original equipment supplier to DaimlerChrysler. DaimlerChrysler will offer a high-end Kicker audio package for its Dodge Neon SRT4 line. As...
-
Multiple Choice Questions 1. Ginger Company's product has a contribution margin per unit of $11.25 and a contribution margin ratio of 22.5%. What is the selling price of the product? A. $5. B. $20....
-
How to respond to this response The effective utilization of data is integral to enhancing efficiency and making informed decisions?
-
On January 1, 2002, Germany officially adopted the euro as its currency, and the deutsche mark stopped being legal tender. According to an article in the Wall Street Journal, even 10 years later many...
-
As the economy becomes more international in scope, users of financial statements are often expected to analyze companies that are not incorporated in the United States. Diageo is a major world...
-
1. Suppose you observe the following zero-coupon bond prices per $1 of maturity payment: 0.96154 (1-year), 0.91573 (2-year), 0.87630 (3-year), 0.82270 (4-year), 0.77611 (5-year). For each maturity...
-
The data set agsrs.dat also contains information on the number of farms in 1987 for the SRS of n = 300 counties from the population of the N = 3078 counties in the United States (see Example 2.5). In...
-
What are the primary bank activities of smaller banks vs. larger banks? A bank is considering holding one of two securities: A 30-year Treasury Bond which yields 7% and a 30-year municipal bond...
-
Use the tabular and graphical methods of descriptive statistics to help management develop a customer profile and to evaluate the promotional campaign. At a minimum, your report should include the...
-
Blue Grass Filters requires additional financing. Presently, it pays for all purchases on the discount date under terms of 2/15, net 75. Its banker will lend funds at 11 percent. a. Should Blue Grass...
-
Morrisette Records' commercial paper is currently selling at 98.512 percent of maturity value; it matures in 75 days. What annualized yield is it offering to investors?
-
What dipeptides would be formed by heating a mixture of valine and N-protected leucine?
-
REQUIRED: Cost of production report under the following assumptions: Lost units - normal, discovered at the beginning Lost units - normal, discovered at the end Lost units - abnormal, discovered when...
-
ABC, Inc., manufactures only two products: Gadget A and Gadget B. The firm uses a single, plant wide overhead rate based on direct-labor hours. Production and product-costing data are as follows:...
-
.Jean Saburit has gone over the financial statements for Saburit Parts, Inc. The income statement has been prepared on an absorption costing basis and Saburit would like to have the statement revised...
-
When a constant force is applied to an object, the acceleration of the object varies inversely with its mass. When a certain constant force acts upon an object with mass 2 kg, the acceleration of the...
-
Use the following for all 3 circuits. V1 = 9.0 V, V = 12.0 V R = 2.0 ohms, R = 4.0 ohms, R3 = 6.0 ohms, R4 = 8.0 ohms C1 = 3.0 C = 3.0 (a) Find I in circuit A (b) Find I1 in circuit B R w R3 V R R4...
-
Write out the chemical equation for the stoichiometric reaction of octane (C 8 H 18 ) with air. Determine the theoretical air/fuel ratio for this reaction on both a volumetric (mole) and mass basis.
-
Four GWU students have been selected to taste food sold by 3 different food trucks labeled as food truck A, B and C on H & 22nd Streets every Monday for 3-weeks. For each student, food trucks are...
-
What are the four types of out-of-court settlements? Briefly describe each.
-
What is the difference between an internal reorganization and an external reorganization under formal bankruptcy procedures?
-
The trustee in the bankruptcy settlement for Titanic Boat Co. lists the following book values and liquidation values for the assets of the corporation. Liabilities and stockholders claims are shown....
-
Series of Compound Interest Techniques The following are several situations involving compound interest. Required: Using the appropriate table, solve each of the following: ( Click here to access the...
-
If Clark Kelly has recognized gain on an exchange of like-kind property held for investment use, where does Clark report the gain? First on Form 8824, then carried to Schedule D. First on Form 8824,...
-
An investor put 40% of her money in Stock A and 60% in Stock B. Stock A has a beta of 1.2 and Stock B has a beta of 1.6. If the risk-free rate is 5% and the expected return on the market is 12%,...
Study smarter with the SolutionInn App