A $12,000 non-interest-bearing promissory note is discounted at 6% compounded monthly, three years before maturity. What are the proceeds from the sale of the note?
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A $12,000 non-interest-bearing promissory note is discounted at 6% compounded monthly, three years before maturity. What are the proceeds from the sale of the note?
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- An individual purchased a 5-year, $10,000 promissory note with an interest rate of 4.5%/year compounded semiannually. How much did the note cost? (Round your answer to the nearest cent.)What is the annual payment on a 8-year, 8 percent, $52,000 note payable?A 9-year promissory note for $5256 dated today bearing interest at 3% compounded quarterly is discounted four years after the date of issue at 7% compounded semi-annually. What are the proceeds of the note?
- The interest charged on a $98000 note payable, at the rate of 6%, on a 4-month note would be $5880. $2940. $980. O $1960.Calculate the amount of interest to be charged on a $12,000, 8.5%, 90-day interest-bearing note.On March 15, 2021, a six-month promissory note for $1,175 with interest at 4% was issued. Compute the present value of the note on May 22, 2021, if money is worth 8%.
- A 5-year promissory note for $3200 issued on September 15, 2018, with interest at 6.5% compounded annually, was sold on December 1, 2019, at 5% compounded semi-annually. What is the sale price (proceeds) of the note?Determine the amount of each semi-annual interest payment for a $1,000 face value note payable with a 10% annual stated rate.A non-interest bearing promissory note has a face value of $950. Find the proceeds of this note if it is discounted 3½ years before its maturity date at 8% compounded quarterly. Select one: a. $719.98 b. $771.65 c. $657.22 d. $725.67
- A 12-year promissory note for $650000 issued on August 15, 2012, with interest at 3.5% compounded monthly, was sold on March 15, 2018, at 6% compounded semi-annually. What is the sale price (proceeds) of the note?a seven-year note for $2800.00 issued on october 1,2015, with interest at 5.7% compounded annually is discounted on june 1,2021, at 8.8% compounded quarterly. what are the proceeds of the note?A five year promissory note with a face value of $5000, bearing interest at 6% compounded semi-annually, was sold 18 months after its issue date to yield the buyer 4% compounded quarterly. What amount was paid for the note?