Solved: Approach to compute cost of promissory note, Finance Basics

+44 141 628 6080
[email protected]

Approach to compute cost of promissory note

Question: ABC company draws a promissory note with a face value of $ 100,000. It is issued on 1st July and matures on 31st July

a) What is the interest rate if drawer receives $99,023?

b) How much is obtained by drawer if the interest rate is 12% p.a.?

Solution Preview :

Prepared by a verified Expert

Finance Basics: Approach to compute cost of promissory note

Reference No:- TGS02086134

Now Priced at $20 (50% Discount)

Recommended (92%)

Rated (4.4/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Discuss children diagnosed with developmental disabilities

When Min decided to begin his supervised field experience, he applied at a company in his hometown that provided applied behavior analysis

How do you define being an adult

Based on information provided in Ch. 11 & 12, how do you define "being an adult"?

Discuss social worker working with foster children

You are a social worker working with foster children. You are making a home visit to Katie, age nine, and her foster family.

Problem regarding the america youth and social media

Think about where you were the most and least engaged when reading a classmate's draft. Think about what captured your attention

Discuss three ethical guidelines that are important

Identify and discuss three ethical guidelines that are important to consider when designing an 8-week group for adolescents who are referred

What is a behavioral indicator related to family

Which of the following is a behavioral indicator related to Family? A) Developing school readiness and transition strategies B) Developing collaborative

Identify a specific theory of cognitive or moral development

Problem 1: Identify a specific theory of cognitive or moral development, and summarize the major assumptions.

Solution Preview :

Prepared by a verified Expert

Finance Basics: Approach to compute cost of promissory note

Reference No:- TGS02086134

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : What is the stock expected rate of return

Q : Present two innovative solutions that organization can use

Q : What is the effective cost of credit through line-of-credit

Q : How activity-based costing is different from job costing

Q : Approach to compute cost of promissory note

Q : Discuss the biblical way of handling health expenses

Q : Explain the general expectations and requirements

Q : How strategic management has successfully impacted

Q : Determine which product would be the best choice