Question
Question: Ranjit has a 120-day note for RM5,000 with an interest rate at 6% per annum. The maturity date of the note is 5 May
Question:
Ranjit has a 120-day note for RM5,000 with an interest rate at 6% per annum. The maturity date of the note is 5 May 2019. On 23 April 2019, Ranjit discounts the note at 7% per annum. Find
(a) The date of the note,
(b) The maturity value of the note,
(c) The discount.
(d) The proceeds.
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
