Compute the missing information to discount the following promissory note. Use a 360-day year for...
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Accounting
Compute the missing information to discount the following promissory note. Use a 360-day year for all interest and discount calculations.
Jane Phipps owned a finance company. On April 22 she purchased a 180-day, non-interest-bearing promissory note. The note had been written on March 22 for $8,900. Because of the high financial risk involved, Jane discounted the note at 16%. Round dollar amounts to the nearest cent. If an amount is zero, enter "0".
| Interest amount | $ |
| Maturity value | $ |
| Maturity date | -Select-Sep. 22Oct. 22Sep. 18Oct. 18Item 3 |
| Days of discount | |
| Discount amount | $ |
| Proceeds | $ |
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