Biology Forums - Study Force

Equity Financial Corp. discounted the following two interest-bearing notes. Compute the missing information. Use a 360-day year.

a.	Face Value:	$6,800	b.	Face Value:	$3,000
	Date of Note:	April 16		Date of Note:	October 28
	Interest Rate:	10%		Interest Rate:	9%
	Time to Run:	105 days		Time to Run:	45 days
	Discount Date:	May 31		Discount Date:	November 12
	Discount Rate:	15%		Discount Rate:	12%
	Interest Amount:	__________		Interest Amount:	__________
	Maturity Value:	__________		Maturity Value:	__________
	Maturity Date:	__________		Maturity Date:	__________
	Days of Discount:	__________		Days of Discount:	__________
	Discount Amount:	__________		Discount Amount:	__________
	Proceeds:	__________		Proceeds:	__________

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