Chang Co. issued a $59,700, 120-day, discounted note to Guarantee Bank. The discount rate is 11%. Assuming a 360-day year, the cash proceeds to Chang Co. are ______ .

Answers

Answer 1

Chang Co. issued a $59,700, 120-day discounted note to Guarantee Bank with an 11% discount rate. So, the cash proceeds to Chang Co. after issuing the discounted note to Guarantee Bank are $57,314.33.

To calculate the cash proceeds, we need to first find the total discount on the note.

Using the formula: Discount = Principal x Discount Rate x (Days to Maturity / 360), we can compute the discount amount as follows: Discount = $59,700 x 11% x (120 / 360) = $2,385.67.

Next, to find the cash proceeds, we subtract the discount from the principal: Cash Proceeds = Principal - Discount = $59,700 - $2,385.67 = $57,314.33.

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Related Questions

research suggests gender differences and self-esteem in the United States may be partially explained by women comparing themselves to ________ versus ________.

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men; other women ,Research suggests that gender differences and self-esteem in the United States may be partially explained by women comparing themselves to men rather than to other women.

This means that women may evaluate their own worth and abilities based on societal standards and expectations set by men, rather than using other women as their reference group. This can lead to lower self-esteem and feelings of inadequacy if women perceive themselves as falling short of male standards or facing gender-based inequalities. Additionally, women may also face social pressure to compete with other women, which can further impact their self-esteem.

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what type of analysis involves analyzing a polynomial wherein its value approaches or approximates that of its dominant term, as the size of the problem gets very large?

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The type of analysis that involves analyzing a polynomial wherein its value approaches or approximates that of its dominant term, as the size of the problem gets very large is called asymptotic analysis.

In this type of analysis, we focus on the behavior of a function as its input grows arbitrarily large, without necessarily caring about the precise values it takes. This analysis is particularly useful when dealing with algorithms and data structures, where the size of the input is often the most important factor in determining their efficiency.

By analyzing the growth rate of a function, we can make informed decisions about which algorithms and data structures to use for a given problem, and predict their performance on large inputs. Asymptotic analysis is a fundamental tool in computer science and mathematics.

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Which of the following statements will display the value of FL assigned to the state column as FLORIDA?
a.SELECT customer#, city, SUBSTR( 'FL', 'FLORIDA') FROM customers
WHERE state = 'FL';
b.SELECT customer#, city, REPLACE(state, 'FL', 'FLORIDA') FROM customers
WHERE state = 'FL';

Answers

The correct statement that will display the value of FL assigned to the state column as FLORIDA is

SELECT customer#, city, REPLACE(state, 'FL', 'FLORIDA') FROM customers WHERE state = 'FL'; So option b is the correct answer.

In this statement,

SELECT customer#, city, REPLACE(state, 'FL', 'FLORIDA') FROM customers WHERE state = 'FL';

the REPLACE function is used to replace the substring 'FL' with 'FLORIDA' in the state column. This will change the value of 'FL' to 'FLORIDA' for the rows where the state is 'FL'.

The SELECT statement retrieves the customer#, city, and the modified state column value from the customers table where the state is 'FL'. so the correct answer is option b.

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