Mom and Pop's Diner signed a day simple interest note with a face value of...
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Mom and Pop's Diner signed a day simple interest note with a face value of $ (today) and a rate of %. The lender sells the note to a broker at a % discount rate days later. Find question 2,3 please!!!!
2. the amount that the broker paid for the note, and
3. the interest received by the broker.
Mom and Pop's Diner signed a 195 day simple interest note with a face value of $290000 (today) and a rate of 7%. The lender sells the note to a broker at a 8% discount rate 54 days later. Find 1. the maturity (future) value of the note, 2. the amount that the broker paid for the note, and 3. the interest received by the broker. Answer: Maturity value = $300845.2055 r Amount paid by the broker = $291826.366 Interest received by the broker=
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