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  • Promissory Notes (D. Guinto)

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    Deanne Lorraine V. Guinto
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    9 views1 page

    Promissory Notes (D. Guinto)

    Uploaded by

    Deanne Lorraine V. Guinto

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Given:

    FV= 10,000 r=13 ⅕%= .136


    Dn= January 1, 2016 d= 11 3/4
    tn=35 days Dd-February 14, 2016

    1. I=FV x r x tn
    =₱10,000 * .136 * 4/12= 453.3

    2. MV= FV + I
    =₱10,000 + ₱453.3=10,453.3

    3. Md = Dn + tn
    =January 1, 2016 + 35 days= February 20, 2016

    4. Td=Md -Dn
    =Md January 1, 2016 308
    Dd February 14, 2016 256
    = 52
    5. Bd=Mv * d * td

    =₱10,453 *.12375*52/360=18,685
    6. Pro= MV -Bd
    =₱10,453.3- ₱ 18,685= -8,232

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