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Promissory note with a face value

Problem: ABC company draws a promissory note with a face value of $ 100,000. It is issued on 1st july and matures on 31st July

1) What is the interest rate if drawer receives $99,023?

2) How much is obtained by drawer if the interest rate is 12% p.a.?

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Finance Basics: Promissory note with a face value

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Promissory note with a face value

Reference No:- TGS01452127

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Promissory note with a face value

Reference No:- TGS01452127

Recent Questions Asked Finance Basics

Q : Total cash outflows in the statement

Q : Popular tool for financial analysis

Q : Cash received at the end of the engagement

Q : Issuing stocks as opposed to issuing bonds

Q : Promissory note with a face value

Q : Line-of-credit agreement

Q : Recording the sale of merchandise

Q : Calculate wacc for a company

Q : Depreciation on productive assets

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