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Type in Exsel and show formulas please.Thanks. 2. The face value of both a simple interest and a simple discount note are $6,000. If both
Type in Exsel and show formulas please.Thanks.
2. The face value of both a simple interest and a simple discount note are $6,000. If both notes have interest rates of 8% for 90 days, calculate: a. Amount of interest charged for each type of note. b. Amount each borrower would receive. c. Amount payee would receive at maturity. 3. On March 4 Jay Miller accepted a $5,000 note in granting a time extension of a bill for goods purchased by Russ Sullivan. Terms of the note were 9% for 150 days. On June 8 Jay could no longer wait for the money and discounted the note at Ranger Bank at a discount rate of 9%. Calculate Jay Miller's proceeds Step by Step Solution
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