Answer to Question #190213 in Accounting for Carolyn Malabanan

Question

A note below is discounted on August 14. 2021 to PNB. If the bank charged 6 1/2%. compute the following :

a). Interest b). maturity value c). date of maturity d) bank discount e). Proceeds ( express your final answer in two decimals only )

Given :

Face of the note = P30,000 , Date of the note = July 8, 2015, Term = 120 days ,

Name of lender ( payee) = Mr Castillo, rate of interest = 5%, Maker ( borrower) = Mr Abaya

Answer 1

Dear Carolyn Malabanan, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order