1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vesna [10]
3 years ago
7

Check My Work Dressed to a Tee received a promissory note of $8,000 for 10 months at 6% simple interest from one of its customer

s. After 5 months, the note was discounted at Grove Isle Bank at a discount rate of 8%. What are the proceeds Dressed to a Tee will receive from the discounted note
Business
1 answer:
nikklg [1K]3 years ago
5 0

Answer:

$8,120

Explanation:

<em>To calculate the proceeds, the gross proceed  less the discount charged by the bank. The gross proceed is the total amount that would have been received should the note is held to maturity.</em>

Gross proceed= P + (P×R×T)

P- 8,000 R- 6%, T- 10/12

Gross proceed = (8,000 + 8,000× 6%× 10/12)

                         = $8,400

Discount charges = Gross proceed × discount rate × time to maturity

Time to maturity = 10 - 5 = 5 months

Discount rate - 8%, Time- 5/12

Discount charges =  8400× 5/12× 8% = $280

Proceeds to be received = $8,400 - $280

                 = $8,120

You might be interested in
Historical returns have generally been __________ for stocks of small firms as (than) for stocks of large firms.
g100num [7]

Historical returns have generally been higher for stocks of small firms as (than) for stocks of large firms.

<h3>What is stocks?</h3>

Stock in finance refers to the shares into which a corporation or company's ownership is divided. A single share of stock represents fractional ownership of the firm based on the total number of shares.

A stock is a type of instrument that implies the holder owns a share of the issuing firm and is typically traded on stock markets. Corporations issue stock in order to raise funds to run their enterprises. Stock is classified into two types: common and preferred.

Stocks are ownership stakes in a publicly traded corporation. When you purchase stock in a corporation, you become a part-owner of that company. If a corporation has 100,000 shares and you purchase 1,000 of them, you own 1% of the company.

To know more about stocks follow the link:

brainly.com/question/25818989

#SPJ4

3 0
1 year ago
Believing in your capabilities and demonstrating<br> confidence in the tasks that you perform
Montano1993 [528]
Helps to boost outs comes and productivity.
3 0
2 years ago
Assume Argentina has production possibilities to produce either 35 batches of apples or 70 batches of peaches using 100 worker h
konstantin123 [22]

Answer:

40

Explanation:

Batches of apples produced in one hour = 35/100 = 0.35

Batches of peaches produced in one hour = 70/100 = 0.70

total hours it would take to produce 15 batches of apples = 15 / 0.35 = 42.86 =  43 hours

this would leave (100 - 43) 57 hours to make peaches

Batches of peaches that can be made in 43 hours = 57 x 0.7 = 39.9 = 40 batches

7 0
2 years ago
Can anyone please tell me the right answer
olganol [36]
Commit to buy more in the future
5 0
3 years ago
Lists three of the most important factors that should be considered when designing a web site
rjkz [21]

making the site usable for the average user

speed website speed can make or break your entire website

contact info

5 0
2 years ago
Other questions:
  • Monopoly insurance is the only company marketing a certain line of insurance in a state. after complaints from several consumers
    7·1 answer
  • What are the three major responsibilities of the federal reserve?
    8·1 answer
  • A property owner must spend $10,000 to pave his driveway. Upon completion of construction, his property value will increase by $
    7·1 answer
  • Miranda is an executive for a company that manufactures dental tools. Her company prefers to measure progress by what percentage
    6·1 answer
  • Calculate China’s RGDP growth rate in 2006, the growth rate of real GDP per person in 2006 (using the approximation formula), an
    11·1 answer
  • With good internal​ controls, the person who handles cash can also
    15·1 answer
  • For more than a thousand years, the Catholic Church required its members to abstain from meat on Fridays. Catholics customarily
    5·1 answer
  • Due to path dependence:_____
    10·1 answer
  • A company has the following selected account balances: Sales $ 250,000 Sales Discounts 1,500 Sales Returns and Allowances 2,300
    5·1 answer
  • Question 3 Resonant leaders create relationships in which those involved experience the following conditions. (Select the answer
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!