9&10

520 Chapter 13 NOTES AND BANK DiscotNT Find the discount and the proceeds for the following discounted notes. 7, $18,000 12et 80 days 8, $26.000 10! 180 days Each of the following simple (c) proceeds for the following discounted notes. [13Al of Loan Rate Discount october September S12.000 150 days 10 December 20 sss00 120 days IIIs February to the Find the true simple interest rate corresponding to each of the following simple discount rates. Round nearest hundredth of percent. 11- 150 days 12- 170 days Solve the following application problems, Round rates to the nearest hundredth of a percent, time to the nearet day, and money to the nearest cent. 13. What simple discount rate corresponds to a simple interest rate of 12% on a 180-day note? [13.3] [13.1] 15. The note in Exercise 14 was discounted 80 days before maturity at 10%. Find the discount. [13.21 16, Benito Maintenance signed asl5.000 simple interest note for 200 days and was charged s2250 in interest. Finl rate. [13.1] 17. Walter Bates borrowed s23000 at 10% simple interest to start acabinet-making business. Find the term of the if the interest is S1150. [13.11 Aborrower signed a note with a face value ofs50000 at a 9 discount rate and received s47,361.11. Find of the note. [13.21 18. 19. To expand his saw-sharpening business, Chuck Giles signed a note with a face value of s18.500 for 150 daysta proceeds of 35. Find the discount rate. [13.2 20. A 90-day note has a loan amount of s12,000 and a maturity value ofs12.330.Find the simple interest rate and discount rate of this note.[13.31 21. Bill Barton needed money for a new a note for s15.000 at a simple discount rate of sa al term of 240 days. Find the effective rate of interest.[13.21 22. On December 23. to a finance company on February 12 at 10 at First Bank for First Bank Stables must pay a nole given to a 9 discount. Find the to First Bank l13Al 24. s12,300, and the one of suppliers The interest rate on the note is 8 the face simple its Martinez Cleaners interest is 10. Find the time of the note bonows S12.00 for 200 days 25. A company with bad credit signed a S79.000, 120 da