68. [-17 Points) DETAILS BRECMBC9 10.111.030, MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use the ordinary Interest method, 360 days, to solve the following word problem. Hound to the nearest cent when recary Richiewer is the owner of American Eagle Bouts, a manufacturer of custom pleasure base of the economic recession and slow boate recently American aghas begun accepting promissory notes from its dealer to help finance targe order this morning American Eagle opted a body, promisory not for 100.000 from one of its sales dealer You are a manager for a bank, and ich s one of your clients. Your bank discount rate le catently 1 Ride goal is to discount the net as soon as possible, but not the procedere at least oral to the face value of the note, $800,000 (+) As his tanker, ich has asked you to run the numberetto da intervale tarting with day 20 and advice him as to when he can discount the note and still receive $800,000 Tied the bank discount in for days 20, 30 and 40, and indicate for each decoupa wiether it is too high or whether it bow enough for this to disetore the note and so receive 100,000 Day 20 Sale Day 30 Day 40 (0) Challenge) Calculate the act day there should be discounted to Richie's goat av Need Hold? [-/7 Points) DETAILS BRECMBC9 10.111.030. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary Richie Power is the owner of American Eagle Boats, a manufacturer of custom pleasure boats. Because of the economic recession and slow boat sales recently, American Eagle has begun accepting promissory notes from its dealers to help finance large orders. This morning American Eagle accepted a 90 day, 8.6% promissory note for $800,000 from one of its sales dealers. You are a manager for a bank, and Alchio is one of your clients. Your bank discount rate is currently 1Richie's goal is to discount the note as soon as possible, but not until the proceeds are at least equal to the face value of the note, S800,000 (*) As his tanker, Michle has asked you to run the numbers at ten day Intervals starting with day 20 and advite him as to when he can discount the note and still receive his 5800,000 Find the bank discount (in 8) for days 20,30, and 40, and indicate for each discount whether it is too high or whether it is tow enough for Michle to discount the noto and receive his $800,000 Day 20: Solec Day 10: -Select- Day 40 5 Hic. (b) (Chalenge) Catoulate the exact day the note should be discounted to meet the goal Day Need Help