A simple discount note results in:
A) Lower interest costs than a simple interest note
B) Same interest costs as a simple interest note
C) Interest deducted when note is paid back
D) Interest deducted in advance
E) None of these
Correct Answer:
Verified
Q26: The bank discount of an $18,000 non-interest-bearing,
Q27: A $7,000, 4%, 120-day note dated March
Q28: A $15,000, 6%, 50-day note dated November
Q29: A $120,000, 5%, 200-day note dated June
Q30: In calculating the bank discount when discounting
Q32: The maturity value of an interest-bearing note
Q33: Maturity value of a non-interest-bearing note is:
A)Less
Q34: Lines of credit provide companies with additional
Q35: The effective rate of a $25,000 non-interest-bearing
Q36: The maturity value of a $20,000, 7%,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents