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Home Q & A Board Other Fields Homework Help Business Finance
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cheesyboots cheesyboots
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The simple interest note was discounted at 15%. Find the discount period in days and the proceeds.

Loan made: Jan 4
Face value: $8,000
Length of loan: 120 days
Rate: 11%
Date of discount: Mar 4

▸ 61 days, $8,082.54

▸ 61 days, $7,847.96

▸ 61 days, $7,789.21

▸ 60 days, $8,141.29
Textbook 
Business Mathematics

Business Mathematics


Edition: 15th
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kniemeier2kniemeier2
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