subject
Mathematics, 20.02.2021 09:00 bear7823

Richie Powers is the owner of American Eagle Boats, a manufacturer of custom pleasure boats. Because of the economic recession and slow boat sales recently, American Eagle has begun accepting promissory notes from its dealers to help finance large orders. This morning American Eagle accepted a 90 day, 8.6% promissory note for $800,000 from one of its sales dealers. You are a manager for a bank, and Richie is one of your clients. Your bank's discount rate is currently 13%. Richie's goal is to discount the note as soon as possible, but not until the proceeds are at least equal to the face value of the note, $800,000. (a) As his banker, Richie has asked you to "run the numbers" at ten day intervals starting with day 20 and advise him as to when he can discount the note and still receive his $800,000. Find the bank discount (in $) for days 20, 30, and 40, and indicate for each discount whether it is too high or whether it is low enough for Richie to discount the note and still receive his $800,000.

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 14:00
When drawing a trend line for a series of data on a scatter plot, which of the following is true? a. there should be an equal number of data points on either side of the trend line. b. all the data points should lie on one side of the trend line. c. the trend line should not intersect any data point on the plot. d. the trend line must connect each data point on the plot.
Answers: 2
question
Mathematics, 21.06.2019 20:00
15 there is a line that includes the point 0,10 and has a slope of 7/4. what is it’s equation in slope intercept form
Answers: 1
question
Mathematics, 21.06.2019 22:20
Which of the following describes how to translate the graph y = |x| to obtain the graph of y = |x+1|+1? shift 1 unit left and 1 unit down shift 1 unit left and 1 unit up shift 1 unit night and 1 unit down shift 1 unit nght and 1 unit up
Answers: 1
question
Mathematics, 21.06.2019 23:00
Janie has $3. she earns $1.20 for each chore she does and can do fractions of chores. she wants to earn enough money to buy a cd for $13.50.
Answers: 2
You know the right answer?
Richie Powers is the owner of American Eagle Boats, a manufacturer of custom pleasure boats. Because...
Questions
question
Mathematics, 29.01.2020 05:51
Questions on the website: 13722359