Question

Descriptors are provided below for six situations involving notes receivable being discounted at a bank. In each case, the maturity date of the note is December 31, 2018, and the principal and interest are due at maturity. For each, determine the proceeds received from the bank on discounting the note.Note Note Face Value Date of Note Interest Rate Date Discounted Discount Rate Proceeds Received1 $56,000 3/31/2018 8% 6/30/2018 10% 2 56,000 3/31/2018 8% 9/30/2018 10% 3 56,000 3/31/2018 8% 9/30/2018 15% 4 120,000 6/30/2018 5% 10/31/2018 10% 5 120,000 6/30/2018 5% 10/31/2018 15% 6 120,000 6/30/2018 5% 11/30/2018 10%

Answer 1

Is this a real question just curious

Answer 2

Answer:

old question taking points