Question
Afiq received a 150-day promissory note on 5th February 2022 with an interest rate of 4% per annum. After 60 days, he discounted the note
Afiq received a 150-day promissory note on 5th February 2022 with an interest rate of 4% per annum. After 60 days, he discounted the note at a discount rate of 2% and the proceeds he received was RM19,220.09. Find:
(a)the maturity date
(b) the maturity value
(c) the face value
(d) the amount of interest received by Afiq.
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Financial Management In Construction Contracting
Authors: Andrew Ross, Peter Williams
1st Edition
1405125063, 9781405125062
