The effective rate of a $30,000 non-interest-bearing simple discount 5%, 60-day note is:
A) 5%
B) 5.04%
C) 6.0%
D) 5.14%
E) None of these
Correct Answer:
Verified
Q22: If one discounts a non-interest-bearing note, all
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Q29: A $120,000, 5%, 200-day note dated June
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Q31: A simple discount note results in:
A)Lower interest
Q33: Maturity value of a non-interest-bearing note is:
A)Less
Q39: The maturity value of a $16,000 non-interest-bearing,
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