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Airida [17]
3 years ago
10

On Oct. 14, Sheffield Company discounted at Sunshine Bank a $9,000 (maturity value), 113-day note dated July 13. Sunshine’s disc

ount rate was 11%.
Required:
What proceeds did Sheffield Company receive?
Business
1 answer:
snow_lady [41]3 years ago
7 0

Answer: $8,945

Explanation:

Number of days that have passed since Note was issued is;

18 days in July

31 days in August

30 Days in September, and

14 days in October

= 18 + 31 + 30 + 14

= 93 days

93 days have already elapsed out of the 113 so days left is;

= 113 - 93

= 20 days

Assuming a 360 day Calender, Sheffield Company will receive;

= Maturity level - Discount Amount

= 9,000 - (9,000 * 11% * 20/360)

= 9,000 - 55

= $8,945

Sheffield would will get $8,945 of proceeds to represent that 20 days are still left of the note till it matures and so need to be discounted from the maturity value.

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3 years ago
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<u>Explanation:</u>

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5 0
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Global marketing can be defined as a management strategy for organizations that also market their products and services in foreign countries.

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As an example, we can mention the fast-food chain <em>Mc Donalds,</em> which has a presence almost all over the world, but which adapts its burgers according to local habits.

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Learn more here:

brainly.com/question/1528741

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Answer:

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Explanation:

I need to answer something bc I'm new sorry

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