Paulina purchased a 120-day interest-bearing promissory note that had a face value of $50,000 and an interest
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Paulina purchased a 120-day interest-bearing promissory note that had a face value of $50,000 and an interest rate of 4.75% p.a. In 100 days, she sold the note for $50,590 to Casey. What rate of return did Casey earn on the note?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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