What is the face value of a three-month promissory note dated July 30, 2013, with interest at 6.5 percent if its maturity value is $1742.84?

Name: What is the face value of a three-month promissory note dated July 30, 2013, with interest at 6.5 percent if its maturity value is $1742.84?
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Question

Quizplus · Accepted Answer

The Answer is Legal due date: November 2, 2013
Interest period: July 30- November 2 = 95 days
S = 1742.84; r =0.065; t =

Legal due date: November 2, 2013 Interest period: July 30- November 2 = 95 days S = 1742.84; r =0.065; t = P = = = = $1713.85

P =

=

= $1713.85

What Is the Face Value of a Three-Month Promissory Note