LuluMathLover101
29.07.2019 •
Mathematics
Afirst city bank accepted a $3,500, 5%, 120-day note dated august 8 from a capstone company in settlement of a past bill. on october 11, first city discounted the note at park bank at 6%.a. what is the note’s maturity value? (use 360 days a year. do not round intermediate calculations. round your final answer to the nearest cent.)b. what is the discount period? c. what is the bank discount? (use 360 days a year. do not round intermediate calculations. round your final answer to the nearest cent.)d. what proceeds does first city receive? (use 360 days a year. do not round intermediate calculations. round your final answer to the nearest cent.)
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Ответ:
Oct 22 ---> 284 daysAug 8 ---> 220
Grand Total --> 64 days passed
Discount Period
120-64 = 56 days
$3,500 x .05 x 120/360= $58.33$3,500 + $58.33= $3,558.33
Bank Discount
$3,558.33 x .06 x 56/360= $33.21
Proceeds
$3.558.33- $33.21 = $3,525.12
Ответ:
0.1, 0.2, 1/2