Eee) Directors Soe the flowing prabieas. Wit Your answers in the blanks provided. Round answer the newest bunch A. Find the due date, interest amount, and maturity value for each of these interest- bearing notes. Use the 360-day method. Face Due Interest Maturity Value Rate Date Time Date Amount Value $1,550 14% Jul7 90 days 1. $2,275 12% Sep& — 6 months 4 6 Find the bank discount and proceeds for these notes. The bank discounted these notes at 13% three months before the maturity of the note, Face Value Interest Rate Due Bank Discount Proceeds $2,500 12% 4 months $12,300 139% 3months 9, $15,700 12% months 11, 2 515,700 10% months — 13, 14. Find the bank discount and proceeds for these notes. Assume that the notes were discounted on June 10 at a 15% discount rate. Use the 360-day method. Face Bank Value Time Date Rate Discount Proceeds $5,200 90 days May10 15% = 15, 16. 512,450 120 days May 20 14% $2,300 60days- May12_— 14% 159% $2,500 90days_ May 10 408 BUSINESS MATH USING EXCELFie the bank dicount and proceeds for these notes. Assume thay ese TERE ee find te oa Sepnember 11 at a 15% dscount rte, Use the 360-day method Face Bank Value Time_=—=ate Rate Discount Proceeds $3400 60days Aug2 15% 23: 24, 525,000 90days Aug? 14% 25, 26. $6430 6Odays Aug20 14% 27, 28. $8,650 120 days Auge 15%. 30. Use Excel to discount notes. 431. Retrieve ch09ex03.xls from your student Data CD: ein call D6, enter 2 formla to calculate the Maturity Value (Face Value irnes the result of 1 plus Rate times Time divided By 360). wb. AREEN Da, enter a formato compute the Maturity Date (Date of Note plus Time. PeeaH OO, enter a forma to compute the Discount Date (Date of Nose plus Days Before Discount) 0 tan D2, enter a formula to calculate the Days Remaining (Time ‘minus Discount Period), eee BS, enter a formula to compute the Bank Discount (Ma\uity Vas tines Discount Rate ties Oays Remaining diced by 360) 1 Mea, enter a formula to compute the Bank Proceeds (Matus Value minus Bank Discount) 4, Ramat datlar amounts for Currency, 2 Decimal places, and $- Format the date entrles for Date x/ex/7% fh. Save the file a5 chOSex03a.xs 42. Retrieve ch0ex04.xs from your student Dato CD. in Call D6, enter a formula to calculate the Maturity Valve Tr Ca DE, enter a formula to compute the Maturity Date 1 eet ro, enter a formato compute the Discount Date Cal D1, enter a formula to calculate the Days Remaining. 1 eet IG, enter a formula to compute the Bank Discount Cah D1, enter a formula to compute the Bank Proceeds toc olan amounts for Curency, 2 Decimal places, and $: Format the date entries for Date x/xx/20%. Save the file as choSex04a.x CHAPTER 9 + Interest 409