Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note July 13 Length of note 40 days Date note discounted August 3 Discount period days
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- Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note 45 days Date note discounted Discount period September 11 October 5 daysCalculate the discount period for the bank to wait to receive its money: (Use Days in a year table): date of note length of note date note discounted discount period (days) july 14th 50 days august 5 ?30. Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note length of note date note discounted discount period September 18 45 days October 9 ??? days TABLE 7.1 Exact days-in-a-year calendar (excluding leap year)* Day of month 31 January 28 February 31 March 30 April 31 May 30 June 31 July 31 August 30 September 31 October 30 November 31 December 1 1 32 60 91 121 152 182 213 244 274 305 335 2 2 33 61 92 122 153 183 214 245 275 306 336 3 3 34 62 93 123 154 184 215 246 276 307 337 4 4 35 63 94 124 155 185 216 247 277 308 338 5 5 36 64 95 125 156 186 217 248 278 309 339 6 6 37 65 96 126 157 187 218 249 279 310 340 7 7 38 66 97 127 158 188 219 250 280 311 341 8 8 39 67 98 128 159 189 220 251 281 312 342 9 9 40 68 99 129 160 190 221 252 282 313 343 10 10 41 69 100 130 161 191 222 253 283 314 344 11 11 42 70 101 131 162 192 223 254 284 315 345 12 12 43 71 102 132 163 193 224 255 285 316 346 13…
- Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value Rate of Length of Date note (principal) interest note Maturity value Date of note discounted Discount period days Bank discount Proceeds $20,500 11% 75 days $ July 13 August 3 $ $Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): Date of note Length of note Date note discounted Discount period April 12 45 days May 02 daysSolve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value (principal) Rate of interest Length of note Maturity value Date of note Date note discounted Discount period Bank discount Proceeds $50,000 11% 95 days June 10 July 18
- Check my wor Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value Rate of Length of note Date note (principal) $26, 300 interest Maturity value Date of note discounted 9% 65 days Discount period Bank discount Proceeds March 17 April 20 days 24 $4 hpCheck my Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary interest method. (Use Days in.a year table) (Do not round Intermediate calculations. Round your final answers to the nearest cent.) Maturity value Date of Rate of Interest Length of note Date note discounted Proceede Face value (principal) 60,600 Discount perlod Bank discount note 90 days May 13 |days June 4The following interest-bearing.promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.). Face Value: $1,280 Interest Rate : 7.7 Date of Note: Sept 18 Term of Note (days) : 130 Maturity Date : ? Maturity Value (in $) $? Date of Discount : Dec 11 Discount Period (days) : ? Discount Rate (%) : 11.2 Proceeds (in $): $? If you purchase $28,000 in U.S. Treasury Bills with a discount rate of 4.9% for a period of 26 weeks, what is the effective interest rate (as a %)? Round to the nearest hundredth percent.
- The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.)FaceValue Interest Rate (%) Date of Note Term of Note (days) Maturity Date Maturity Value (in $)$1,220 7.4 Sept. 18 130 ???? ???? Date of Discount Discount Period (days) Discount Rate (%) Proceeds (in $)Dec. 11 ??? 11.6 ???Label all final answers with the correct units, if applicable. Unless otherwise stated, use 4 decimal places for intermediate computations of interest rates (if needed) then round off final answers to two decimal places. For monetary amounts, use 2 decimal places even for intermediate computations. 6. Consider a bank account with the following transactions for the month of June 2021: No. of Days Balance is Balance June Deposit Withdraw for the Day Unchanged * 1 20,000 20,000 * * 14 16,500 10,500 * 21 11,000 * * 30 16,500 4,000 a. Supply the correct data in the boxes marked with * b. What is the average daily balance for this account for the month of June? c. If a bank advertises an interest rate of 1.5% per year compounded monthly, what is the total interest earned for this month?Using ordinary interest, calculate the missing information for the following simple discount notes. Date of Bank Maturity Date Note Discount Aug. 14 Face Value 20. $50,000 21. $875,000 Discount Rate (%) 13 9/2/2 Apr. 5 Oct. 25 Term (days) 87 Proceeds