Home / Questions / Annamarie Weymeyer held a $3,750, 120-day, non-interest-bearing note dated July 24. On Aug
Annamarie Weymeyer held a $3,750, 120-day, non-interest-bearing note dated July 24. On August 16, she took the note to First Bank of the Plains which discounted the note at 10%. Use a 365-day year to find the missing information on the loan. Round your answers to two decimal places, if necessary.
| Interest Amount: | $0 | |
| Maturity Value: | $ ______ | |
| Maturity Date: | SelectNov. 19Nov,. 20Nov., 21, or Nov. 22 | |
| Days of Discount: | _______ | days |
| Discount Amount: | $ ________ | |
| Proceeds: | $________ |
Compute the missing information to discount the following promissory note. Use a 360-day year for all interest and discount calculations.
On September 10, Joe Morrison Financial Services bought a $17,000 promissory note. The note had been written on August 2, was for 105 days, and had an interest rate of 7%. Joe's company discounted the note at 11%. Round dollar amounts to the nearest cent.
| Interest amount | $____ |
| Maturity value | $____ |
| Maturity date | -Select-Nov. 15, Dec. 28, Dec. 15, or Nov. 28 |
| Days of discount | _____ |
| Discount amount | $_____ |
| Proceeds | $_____ |
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