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Logan Aeronautical Supply accepted a non-interest-bearing promissory note with a face value of $162,000 from a customer. If the note is discounted at the bank
Logan Aeronautical Supply accepted a non-interest-bearing promissory note with a face value of $162,000 from a customer. If the note is discounted at the bank at 10% 45 days prior to maturity, calculate the following. (Assume that the bank uses a 360-day year, and round your answers to the nearest hundredth.) SD 1. Bank discount amount 2. Proceeds from the discounted note 3. Effective interest rate: 0% Clear Undo Help
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