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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 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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