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a note for P200,000 dated January 31, 2020 at 9 1/2& simple interest has an 8-month term. The promissory note was discounted on May 22,
a note for P200,000 dated January 31, 2020 at 9 1/2& simple interest has an 8-month term. The promissory note was discounted on May 22, 2020 at a discount rate of 8%.
a) Find the maturity date
b) Find the maturity value
c) How much is the interest?
d) What is the term of the discount (how many days)?
e) How much is the discount?
f) How much is the proceeds?
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