A 4-Month, 7

question 45

Essay

A 4-month, 7.26% percent promissory note dated June 10, 2013 has a maturity value of $6231.34. What is the face value of the note?

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Definitions:

Proportion

The fraction or percentage that represents a part of a whole or any number of equal parts.

P Chart

A type of control chart used to monitor the proportion of defective items in a series of samples.

Upper Control Limit

The upper threshold in control charts beyond which indicates that a process is out of control.

P Chart

A type of control chart used for monitoring the proportion of defectives in a process.