business math word problem

Business & Finance
Tutor: None Selected Time limit: 1 Day

 Pinnacle Manufacturing received a $40,000 promissory note at 12% simple interest for 95 days from one of its customers. On day 70, Pinnacle discounted the note at the Berryville Bank at a discount rate of 15%. The note was made on September 12.: a. What was the maturity date of the note?_________ b. What was the maturity value of the note? $______________ c. What was the discount date of the note?____________ d. What proceeds did Pinnacle receive after discounting the note? $____________ 


Jun 17th, 2015

Thank you for the opportunity to help you with your question!

a)November 17th

b)41.249

c)December 12th

d.35061

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Jun 17th, 2015

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Jun 17th, 2015
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Jun 17th, 2015
Dec 4th, 2016
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