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Science-Related Homework Help Mathematics Topic started by: theroyalty on Mar 8, 2023



Title: White River Bank made the following two loans using a discount rate to compute the charge and then ...
Post by: theroyalty on Mar 8, 2023
White River Bank made the following two loans using a discount rate to compute the charge and then loaned the proceeds to their clients. Compute the amount of discount, the proceeds, and the actual interest rate based upon the proceeds rather than the face value. Use a 360-day year and compute actual rates to the nearest 1/100 of a percent.

      
Actual
 
Face
Discount
 
Discount
 
Interest
 
Value
Rate
Time
Amount
Proceeds
Rate
a.
$4,090
11%
120 days
________
________
________
b.
$3,260
10%
150 days
________
________
________


Title: Re: White River Bank made the following two loans using a discount rate to compute the charge and then ...
Post by: voltayre on Mar 8, 2023
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