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Godty Godty
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10 months ago
First, find the initial proceeds of the simple discount note. Then, find the discount period, the discount, and proceeds after discounting.

Date Loan Was Made: Jan. 16
Maturity Value: $10,000
Length of Loan: 90 days
Rate: 10%
Date of Discount: Mar. 25
Discount %: 11%

▸ Initial Proceeds: $9,750.00;
Discount Period: 22 days;
Discount: $134.44;
Proceeds After Discount: $19,932.78

▸ Initial Proceeds: $9,750.00;
Discount Period: 38 days;
Discount: $134.44;
Proceeds After Discount: $9,841.11

▸ Initial Proceeds: $9,750.00;
Discount Period: 22 days;
Discount: $67.22;
Proceeds After Discount: $19,932.78

▸ Initial Proceeds: $9,750.00;
Discount Period: 22 days;
Discount: $67.22;
Proceeds After Discount: $9,932.78
Textbook 
Business Mathematics

Business Mathematics


Edition: 15th
Authors:
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latoya86latoya86
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10 months ago
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Godty Author
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10 months ago
Thanks
sadiewolf
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Yesterday
Brilliant ツ
Ivansitospeed@g
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2 hours ago
this is exactly what I needed
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