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please show your work from excel LU 11-1a EXTRA PRACTICE QUIZ WITH WORKED OUT SOLUTIONS 1. Warren Ford borrowed $14,000 on a non-interest-bearing, simple discount,

please show your work from excel image text in transcribed
LU 11-1a EXTRA PRACTICE QUIZ WITH WORKED OUT SOLUTIONS 1. Warren Ford borrowed $14,000 on a non-interest-bearing, simple discount, 41%, 60-day note. Assume ordinary interest. What are (a) the maturity value. (b) the bank's discount, (c) Warren's proceeds, and (d) the effective rate to the nearest hundredth percent? 2. Jane Long buys a $10,000, 13-week Treasury bill at 4%. What is her effective rate? Round to the nearest hundredth percent LU 11-2a EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTION From the information below, calculate (a) interest and maturity value. (b) discount period, (c) bank discount, and (d) proceeds. Assume ordinary interest. Date of Face value Length Interest Bank Date of note (principal) of note of note rate discount rate discount April 10 $40,000 170 days 5% 2% June 10

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