Question
On 20 March 2018, Kamal received a 120-day promissory note with a simple interest rate of 11% per annum. On 14 May 2009, he discounted
On 20 March 2018, Kamal received a 120-day promissory note with a simple interest rate of 11% per annum. On 14 May 2009, he discounted the note at a discount rate of 10% and received proceeds of RM2,592.75. Find the:
a) maturity date
b) maturity value
c) value of bank discount
d) face value.
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Important Note There are two Dates given in the Question a Promissory Note receipt date given as 20t...
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
