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3. A RM5,000, 8%, 6-month note dated 10 April 2009 is discounted at 6,5%. If the discount amount is RM18.78, find the term of discount
3. A RM5,000, 8%, 6-month note dated 10 April 2009 is discounted at 6,5%. If the discount amount is RM18.78, find the term of discount of the note. Melissa , hobusinesswoman receives movie sony note for RM3,000 with interest an 9% per annum. The note dated 12 May is due in 90 days. The note is discounted on 15 July 2012.2009 at a bank that charges 6% discount. Find (a) the maturity date, (b) the maturity value, (c) the proceeds. 5. A company had a note dated 20 January 2009 for RM7,500 with interest at 5.5% per annum. The term of the note was six months. The company discounts the note on 10 June 2009 at a bank that charges a discount rate of 4%. What are the proceeds? 6. Nally received a 120-day promissory note for RM20,000 which matures on 2nd August 2008 with a simple interest rate of 5% per annum. She later discounted the note 60 days before the maturity date and obtained RM20,138.24. Find (a) the date of the note (b) the maturity value (c) the bank discount (d) the bank discount rate 3. A RM5,000, 8%, 6-month note dated 10 April 2009 is discounted at 6,5%. If the discount amount is RM18.78, find the term of discount of the note. Melissa , hobusinesswoman receives movie sony note for RM3,000 with interest an 9% per annum. The note dated 12 May is due in 90 days. The note is discounted on 15 July 2012.2009 at a bank that charges 6% discount. Find (a) the maturity date, (b) the maturity value, (c) the proceeds. 5. A company had a note dated 20 January 2009 for RM7,500 with interest at 5.5% per annum. The term of the note was six months. The company discounts the note on 10 June 2009 at a bank that charges a discount rate of 4%. What are the proceeds? 6. Nally received a 120-day promissory note for RM20,000 which matures on 2nd August 2008 with a simple interest rate of 5% per annum. She later discounted the note 60 days before the maturity date and obtained RM20,138.24. Find (a) the date of the note (b) the maturity value (c) the bank discount (d) the bank discount rate
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