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Home Q & A Board Science-Related Homework Help Mathematics
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Krazil Krazil
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Guarantee Lending Co. discounted the following two interest-bearing notes. Compute the missing information. Use a 360-day year.

a.Face Value:$1,800b.Face Value:$925
 Date of Note:July 20 Date of Note:August 18
 Interest Rate:15% Interest Rate:12%
 Time to Run:90 days Time to Run:60 days
 Discount Date:October 3 Discount Date:September 27
 Discount Rate:18% Discount Rate:16%
      
 Interest Amount:__________ Interest Amount:__________
 Maturity Value:__________ Maturity Value:__________
 Maturity Date:__________ Maturity Date:__________
 Days of Discount:__________ Days of Discount:__________
 Discount Amount:__________ Discount Amount:__________
 Proceeds:__________ Proceeds:__________
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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twogat123twogat123
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More solutions for this book are available here

a.Interest Amount:$67.50b.Interest Amount:$18.50
 Maturity Value:$1,867.50 Maturity Value:$943.50
 Maturity Date:Oct. 18 Maturity Date:Oct. 17
 Days of Discount:15 days Days of Discount:20 days
 Discount Amount:$14.01 Discount Amount:$8.39
 Proceeds:$1,853.49 Proceeds:$935.11
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