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olga2289 [7]
3 years ago
10

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

be?
A. $14,936,46
b. $ 15,610,64
c. $63,54
d. $15,061,98
Mathematics
2 answers:
tatyana61 [14]3 years ago
5 0
The answer is the D option.
steposvetlana [31]3 years ago
4 0

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

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