Question
1) To remodel a restaurant, Two Brothers Pizza signs a 250-day note with proceeds of $63,159.72 and a maturity value of $68,000. Find the APR.
1) To remodel a restaurant, Two Brothers Pizza signs a 250-day note with proceeds of $63,159.72 and a maturity value of $68,000. Find the APR.
2) Nita is preparing to go on a trip to Hawaii and determined she needs to bring $6,400. How much must she borrow for a simple discount note at 4.5% for 60 days?
3) Zakir loans Panji $20,000 for one year at 8% simple interest. Three months later, Zakir sells the note to Ben at a simple discount rate of 7 3/4%. How much does Ben pay for the note?
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Financial Reporting And Statement Analysis A Strategic Perspective
Authors: Clyde P. Stickney, Paul Brown
4th Edition
0030238110, 978-0030238116
