Discounting (Scontarea)

On 20
th
August 2013, Agrico LTD exported 154 tons of apples at the price of 215$ per ton. Instead of prompt payment the
company received a promissory note (cambie) /draft with the deadline on 21
st
December 2013.
Calculate the real value of the trade effect if the exporter discounts it on 21
st
September at a Discount rate 11,5% annual
and Exchange rate 13,0110 lei

Volume 154 tons
Price 215$/ton
Discount rate 11,5%
Exchange rate 13,0110 lei

Nominal value = (215*13,0110)*154 = 430 794,21 lei
Real value = Nominal value Discounting
Discounting =


= 12 522,94

91 zile = From 21
st
September until 21
st
December
(9 days in September, 31 days in October, 30 days in November, 21 days in December)

Real value = 430 794,21 12 522,94 = 418 271,27 lei

Answer:
After discounting the company will receive 418 271,27 lei, less with 12 522, 94 lei, because the discounting value represents the cost
of valorization of commercial bill before maturity.

Raspuns:
In urma scontarii, compania va incasa 418 271,27 lei, cu 12 522,94 lei mai putin, deoarece valoarea scontului reprezinta costul
valorificarii efectului de comert inainte de scadenta.


Discounted Loan
Company X closed a discounted loan for amount of 100 000 lei for 2 years.
Calculate the amount of money that company received if the Interest rate 7%, Annual and financial charges 1% from front value of
discounted loan. Also calculate the annuities.

Discounted loan 100 000lei
Period 2 years
Interest rate 7%
Financial charges (commission) 1%

Real Value ?
Annuities ?

Interest rate is 7% from 100 000 lei; Interest rate = 100 000*7% = 7 000 lei per 1 year; 7 000*2 = 14 000 lei per 2 years
Interest rate = 14 000 lei
Financial charges are 1% from 100 000 lei; Financial charges = 100 000*1% = 1 000 lei

Real Value = 100 000 14 000 1000 = 85 000 lei
Annuities = 100 000/24 luni (2 ani) = 4166,66 lei












Factoring
Nominal value 10 000 euro
Period 180 days
Factoring tax 3%
Factoring advance 70%
Interest rate for advance 2%
16 January 2014

Real value ?
Advance ?

Factoring advance is 70% from 10 000 euro; Factoring advance = 10 000*0,7 = 7 000 euro (16 ianuarie)
Interest rate =


= 56,38 euro
145 zile = From 16
th
January until 10
th
June
(15 days in January, 28 days in February, 31 days in March, 30 days in April, 31 days in May, 10 days in June)

Factoring tax is 3% from 10 000 euro; Factoring tax = 10 000*3% = 300 euro

Real Value = Nominal value Factoring tax Interest rate
Real Value = 100 000 300 56,38 = 9643, 62 euro

Cost of Factoring = Interest rate + Factoring tax; Cost of Factoring = 56,38+300 = 356,38 euro