Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

these are the first 3 parts QUESTION 19 Assume that 30 days after the Oakbrook motel accepted the note from Charles White, the treasurer takes

image text in transcribed
image text in transcribedthese are the first 3 parts
image text in transcribed
QUESTION 19 Assume that 30 days after the Oakbrook motel accepted the note from Charles White, the treasurer takes the note to the local bank, which discounts it at a rate of 10%. How much is th Discount - Maturity value X Discount rate X Discount period * Suppose 1 year has 360 days. $17 520 QUESTION 20 How much cash that shook treasurer would receive-Proceeds)? Proceeds - Marity value Discount $2,016 $2.020 $2.023 $2,027 Question Completion Status: QUESTION 17 For the following 4 questions: The following is an interest-bearing note: $2,000 Topeka, Kansas June 15, 20X3 Sixty days after date I promise to pay to the order of Oakbrook Motel . Two thousand and no/100 ....dollars payable at First City Bank of Topeka with an interest at 12 percent. Charles White Based on the information above, calculate interest payment. Interest principal X rate X time Suppose 1 year has 360 days. $20 O $40 QUESTION 18 QUESTION 18 Based on the information above, calculate the note's maturity value. Maturity value = principal + interest payment Suppose 1 year has 360 days. $2,000 $2,020 $2,040 $2,060 QUESTION 19 Assume that 30 days after the Oakbrook motel accepted the note from Charles White, the treasurer takes the note to the local bank, which discounts it at a rate of 10%. How much is the discount? Discount - Maturity value X Discount rate X Discount period * Suppose 1 year has 360 days. $17 $20 $24

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

explain what is meant by experiential learning

Answered: 1 week ago

Question

identify the main ways in which you learn

Answered: 1 week ago