Find the Present Value and the Amount of Discount for a Four-Month

question 47

Essay

Find the present value and the amount of discount for a four-month non-interest-bearing note for $9 180 issued December 2, 2014, if money is worth 7.2% on February 28, 2015.

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Definitions:

Innate

Traits, abilities, or behaviors that are present from birth and not significantly influenced by the environment.

Babbling

the production of repetitive, consonant-vowel sounds by infants, typically starting around 6 months of age, as a precursor to language development.

Language

A system of communication used by a particular community or country, composed of written, spoken, or gestural symbols that convey meaning.

Consonant-Vowel Combinations

Pairs or groups of consonant and vowel sounds that form the basic units of syllables in spoken language.