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Bluffinmuffin Bluffinmuffin
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7 months ago

Wayne signed a $10,000 note at Lynn Bank that charges a 7% discount rate. Use ordinary interest. If the loan is for 150 days, find:

  1. Proceeds
  2. Effective rate charges by the bank

    Note: Round to the nearest tenth percent.

Textbook 
Math for Business and Finance: an Algebraic Approach

Math for Business and Finance: an Algebraic Approach


Edition: 3rd
Author:
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Ludacris2065Ludacris2065
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7 months ago
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