Discounting Interest Bearing Notes Example #1

Discounting Interest Bearing Notes Example #1

This video corresponds to slide 11 from the notes. You sell the following promissory note to the bank. Find the interest and maturity value, discount period, bank discount, and proceeds. Date of Note: April 8th Face Value: $3000 Length of Note: 165 days Interest Rate: 9% Bank Discount Rate: 8% Date of Discount: August 29th

Discounting Interest Bearing Notes Example #1

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