A Promissory Note Has a Face Value of $4500 and It

question 62

Multiple Choice

A promissory note has a face value of $4500 and it carries an interest rate of 8.73% for a period of 4 months (including the period of grace) . It is sold 3 months before the legal due date.What is the present value of the note on the date of sale if money is worth 8.2%?

• A) $4573.92
• B) $4537.92
• C) $4357.92
• D) $4592.37
• E) $4777.92

---

Definitions:

IF Field

In software like Microsoft Word, an IF field is a conditional statement used within mail merge operations to display specific data based on certain conditions.

Greeting Line

A pre-set or personalized message used at the beginning of an email or letter to address the recipient.

Recipient List

A collection of email addresses or contacts that are selected to receive a particular message or document.

Preview Results

A feature in various software applications that allows users to see a sample outcome of selected operations before making it final.