(Answered) Bill blank signed an 7540 note at citizens bank citizens

Finance

Bill Blank signed an $7,540 note at Citizen's Bank. Citizen's charges a formula5.mml discount rate. Assume the loan is for 270 days.

a. Find the proceeds. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)

Proceeds $

b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.)

Effective rate %

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92779859
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Please show all workkanab co and zion co are us companies

Please Show All Work Kanab Co. and Zion Co. are U.S. companies that engage in much business within the U.S. and are about the same size. They both conduct some international business as well. Kanab Co. has a subsidiary i ...

Why does the binomial option pricing formula discount the

Why does the binomial option pricing formula discount the expected cash flows using the risk-free rate?

Question - you are given one-year stock options with an

Question - You are given one-year stock options with an exercise price of $30. The current stock price is $30, so the options are at-the-money. Without hedging, the stock price at year-end will either be $28 or $38 with ...

Why should investors who identify positive-npv trades be

Why should investors who identify positive-NPV trades be skeptical about their findings if they don't inside information or a competitive advantage? What return should the average investor expect to receive?

Part 1 trade receivables1 for purposes of answering the

Part 1: Trade Receivables 1. For purposes of answering the questions in this part, only consider "Trade Receivables." a. What is the amount of Trade Receivables that customers owe Coors at the end of fiscal 2002? b. What ...

What are a few benefits from using a gantt chart when

What are a few benefits from using a gantt chart when scheduling projects?

What is property law and what are the four broad categories

What is property law and what are the four broad categories it can be divided into?

Rose berry is attempting to evaluate her expected return

Rose Berry is attempting to evaluate her expected return over the coming year. She holds shares in the following two companies, 60% in A and the rest in B. Expected Return State Probability of State Company A Company B B ...

Cardinal industries had the following operating results for

Cardinal Industries had the following operating results for 2018: Sales = $33,813; Cost of goods sold = $23,967; Depreciation expense = $5,947; Interest expense = $2,685; Dividends paid = $1,951. At the beginning of the ...

1 if you deposit 1832 into an account paying 0600 annual

1. If you deposit $1,832 into an account paying 06.00% annual interest compounded monthly, how many years until there is $32,447 in the account? 2. What is the value today of receiving a single payment of $13,701 in 29 y ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert