ogress Cookie Ltd. receives a $100000, zero-interest-bearing note. The present value of this note is $85480. If the implicit rate of interest is 4%, what is the term of the note? 02 03 07 04
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- ivanhoe ltd receives a $86000,zero interest bearing note. the present value of this note is $72024. if the implicit rate of interest is 3%, what is the term of the noteA promissory note is a written statement agreeing to pay a sum of money either on demand or at a definite future time. When a note is purchased for its present value at a given interest rate, the note is said to be discounted and the interest rate is called the discount rate. Suppose a $10,000 note due 7 years from now is sold to a financial institution for $5600. What is the nominal discount rate with quarterly compounding? The nominal rate is %. (Type an integer or decimal rounded to two decimal places as needed.)A promissory note has a face value of 22275.00 and it has a date of issue of November 15 this year. The maturity date is April 15th. The rate of simple interest is 5.75%. What is the maturity value of the note?
- Solar Co. sold a machine in exchange for a P800,000, 4-year, S note, interest is payable annually. Prevailing market rate of interest for this type of note is 10% wrt How much is the carrying amount of the note receivable on January 1, 2021? How much is the carrying amount of the note receivable on December 31, 2021? ments How much is the interest income received on December 31, 2023? ences ( Previous ssors dentsA non-interest bearing note has a face value of $3000. The note is due 96 days from today. Money is currently worth 8% per annum. Find the present value of the note. Select one: a. $2938 b. $3063 c. $2778 d. $29232. A 216-day, 6% promissory note with a face value RM6000 was discounted 76 days before the maturity date at 4.5% discount rate. If the date of the note was 4h June 2020. Using Banker's Rule. No use excel. Calculate d) The amount of proceeds (RM6154.02) e) The amount of discount (RM59.02)
- 60. On January 1, 2022 a note was received where the present value of the note receivable is higher than the face value. Which of the following situation will corresponds to the situation? Group of answer choices the nominal interest on the note was 2% while the effective interest is 5% on January 1, 2022. the nominal interest on the note was 8% while the effective interest is 3% on January 1, 2022. the nominal interest on the note was 10% while the effective interest is 12% on January 1, 2022. the nominal interest on the note was 4% while the effective interest is 4% on January 1, 2022.3. A 120-day promissory note dated 12 January 2020 offers a simple interest rate of 2.57%. By using exact time, find: a) the face value if the maturity value of the note is RM8,571.62. b) the discount value if proceed received is RM8534.48. c) the discount rate if the note discounted 2 months before the maturity date.Persever Company is a dealer in equipment. On December 21, 2021, the enitity sold an equipment in exchange for a noninterest bearing note requiring five annual payments of P500,000. The first payment was made on December 31, 2022. The market interest rate for similar notes was 8%. PV of 1 at 8% for 5 periods 0.68 PV of an ordinary annuity of 1 at 8% for periods 3.99 What is the amount of interest income should be reported for 2023?
- A 6%, 110-days note dated 31 August 2019 has a maturity value of RM4,073.33. On 12th October 2019, the note is discounted and the proceeds received are RM4,019.47. Find: The face value of the note The bank discount rate that is charged when the note is discounted.On September 1, 2024, Hiker Shoes issued a $108,000, 6-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 10%. Hiker's effective interest rate on this loan is: Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Multiple Choice O о O 10.46%. 10.00%. 10.45%. 10.53%Persever Company is a dealer in equipment. On December 21, 2021, the enitity sold an equipment in exchange for a noninterest bearing note requiring five annual payments of P500,000. The first payment was made on December 31, 2022. The market interest rate for similar notes was 8%. PV of 1 at 8% for 5 periods 0.68 PV of an ordinary annuity of 1 at 8% for periods 3.99 What amount of interests income should be reported for 2022?