Proomissory Note
Compute the maturity value for a four-month, 5.25% promissory note for $620 issued May 25, 2023.
$630.97
150-day note with interest at 5% is dated June 28, 2022, and has a maturity value of $836.85. Determine the face value of the note.
$820
What is the price of a 64-day, $50 OOO Province of British Columbia treasury bill that yields 1.36% per annum?
$49881.05
On March 10, Fat Tires Ltd. borrowed $10 OOO with an interest rate of 5.5%. The loan was repaid in full on November 15, with payments of $2500 on June 30 and $4000 on September 4. What was the final payment?
$3785.67
The Tomac swim club arranged short-term financing of $12,500 on July 20 with the bank of commerce and secured the loan with a demand note. The club repaid the loan by payments of $6000 on September 15, $3000 on November 10, and the balance on dec 30. Interest, calculated on the daily balance and charged to the club’s current account on the last day of each month, was at 9.5% per annum on July 20. The rate was changed to 8.5% effective September 1 and to 9% effective December 1. How much interest was paid on the loan.
$307.56