Question
The following note was discounted at 16%. Find the proceeds. Loan date June 14, face value $5,000, length of loan 100 days, rate 10%, discount
The following note was discounted at 16%. Find the proceeds.
Loan date June 14, face value $5,000, length of loan 100 days, rate 10%, discount date Aug. 7 The note was discounted at 16%. Find the proceeds.
Question options:
$5,033.83
$5,138.89
$4,936.11
$5,243.94
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Practical Financial Management
Authors: William R. Lasher
6th Edition
1439080496, 978-1439080498
