Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 22, 2024

Solve both part.Thank you. Q A) Find the bank discount and proceeds using ordinary interest for a loan to Michelle Anders for $7,200 at 8.25%

Solve both part.Thank you.

Q A) Find the bank discount and proceeds using ordinary interest for a loan to Michelle Anders for $7,200 at 8.25% annual simple interest from August 8 to November 8.

B)What is the effective interest rate of a simple discount note for $8,000, at an ordinary bank discount rate of 11%, for 120 days?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Futures And Options Markets

Authors: John Hull

9th Edition

0134083245, 9780134083247

More Books

Students also viewed these Finance questions

Question

★★★★★

Kimberly-Clark Corporation manufactures and markets a variety of personal care and health products under brand names that include Kleenex, Buggies, Scott, Scottex, Cottonelle, Viva, Kotex, and...

Answered: 1 week ago

Question

★★★★★

How may metal hydride materials, of interest for hydrogen storage applications, be characterized using the various analytical methods discussed?

Answered: 1 week ago

Question

★★★★★

12.74 Avocado Research Movement of avocados into the United States from certain areas is prohibited because of the possibility of bringing fruit flies into the country with the avocado shipments....

Answered: 1 week ago

Question

★★★★★

David Brooks apparently made threatening remarks to certain of his companys independent auditors. What actions should auditors take when they are the target of hostile statements or actions by client...

Answered: 1 week ago

Question

★★★★★

Compute the level factor and the butterfly spread for each term structure in Table 4.7. Which period had the highest slope? Which period had the highest curvature? Can you recognize the periods with...

Answered: 1 week ago

Question

★★★★★

Handwritten Homework Exercise 2.16 (Algorithmic) Kildeer Company makes easels for artists. During the last calendar year, a total of 37,000 easels were made, and 38,000 were sold for $60 each. The...

Answered: 1 week ago

Question

★★★★★

1. Prepare for the appraisals Begin by reviewing and printing out the previously completed Performance Appraisal for Terry, Giselle and Prem. Review the Team Performance Appraisals completed by your...

Answered: 1 week ago

Question

★★★★★

On January 1st, 2017, Sands Company purchased a construction lathe at a cost of $625,000. It was estimated that the machine would have a useful life of 25 years, and a residual value at the end of...

Answered: 1 week ago

Question

★★★★★

MTV's network has become a symbol of globalization. Established in 1981, the US based music TV network has been expanding outside of its North American base since 1987; when it first opened MTV...

Answered: 1 week ago

Question

★★★★★

How to solve it???......... 4. On Dec. 31, 20x1, the petty cash fund of Bark Co., with a P30,000 leger balance, consists of the following: Currencies and coins 1,020 Vouchers for various PCF...

Answered: 1 week ago

Question

★★★★★

Estimate 99 by using a linear approximation of f(x) = x about the value x = 100. Round your answer to four decimal places, if necessary.

Answered: 1 week ago

Question

★★★★★

1. As a class, discuss how you communicate with people both online and face to face. What differences can you identify in how you communicate in each medium? What differences can you identify in how...

Answered: 1 week ago

Question

★★★★★

How many people share a car in your family? How many cars are there in the United States?

Answered: 1 week ago

Question

★★★★★

How is seating arranged in restaurants? Are there large communal eating areas or private tables and booths for individuals or small groups?

Answered: 1 week ago

Previous Question Next Question