An investor is prepared to buy short-term promissory notes at a price that will provide him with a return on investment of 12%. What amount would he pay on August 9 for a 120-day note dated July 18 for $4,100 with interest at 10.25% pa?

Question

Quizplus · Accepted Answer

The Answer of An investor is prepared to buy short-term promissory notes at a price that will provide him with a return on investment of 12%. What amount would he pay on August 9 for a 120-day note dated July 18 for $4,100 with interest at 10.25% pa?

An Investor Is Prepared to Buy Short-Term Promissory Notes at a Price