TAILIEUCHUNG - Lecture Practical business math procedures (11/e) - Chapter 11: Promissory notes, simple discount notes, and the discount process

After reading the material in this chapter, you should be able to: Differentctiiate between interest-bearing and non-interest-bearing notes; calculate bank discount and proceeds for simple discount notes; calculate and compare the interest, maturity value, proceeds, and effeve rate of a simple interest note with a simple discount note; explain and calculate the effective rate for a Treasury bill;. | Chapter Eleven Promissory Notes, Simple Discount Notes, and The Discount Process Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Learning unit objectives LU 11-1: Structure of Promissory Notes; the Simple Discount Note Differentiate between interest-bearing and non-interest-bearing notes. Calculate bank discount and proceeds for simple discount notes. Calculate and compare the interest, maturity value, proceeds, and effective rate of a simple interest note with a simple discount note. Explain and calculate the effective rate for a Treasury bill. LU 11-2: Discounting an Interest-Bearing Note before Maturity Calculate the maturity value, bank discount, and proceeds of discounting an interest-bearing note before maturity. Identify and complete the four steps of the discounting process. 2 Structure of a Promissory Note 3 Simple Discount Note Terminology Simple Discount Note - A note in which the loan interest is deducted in advance. Bank .

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