Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Science-Related Homework Help Mathematics
New Topic  
theroyalty theroyalty
wrote...
Go to Answer
Posts: 143
Rep: 0 0
A year ago
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
________
________
________
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
Read 89 times
1 Reply
Replies
Answer verified by a subject expert
voltayrevoltayre
wrote...
#1
Posts: 139
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

theroyalty Author
wrote...

A year ago
Correct Slight Smile TY
ky
wrote...

Yesterday
Thank you, thank you, thank you!
vanna2014
wrote...

2 hours ago
Smart ... Thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1346 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 601
  
 618
  
 210
Your Opinion
Who will win the 2024 president election?
Votes: 3
Closes: November 4
Previous poll results: Which 'study break' activity do you find most distracting?