A $15,000, 6 percent , 50-day note ,dated November 8, is discounted at 5 percent on November 28, the proceeds of the note would

Question

2 years ago

10

be?
A. $14,936,46
b. $ 15,610,64
c. $63,54
d. $15,061,98

2 answers:

tatyana61 [14] · Answer 1 · 2022-06-27T19:17:58+03:00

5 0

The answer is the D option.

steposvetlana [31] · Answer 2 · 2022-06-27T20:21:22+03:00

Answer:

D. $15061.98

Step-by-step explanation:

In order to calculate the proceeds we will using the following computation:

Principal + {Principal * Discounted rate * Frequency of a year on Maturity Date}

15,000 + {15,000 * 5% * (30/365)}

Hence, the proceeds of note would be $15,061.98