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Financial Math (1 point) Suzie wants to buy a car for $6500. If she pays cash she receives a 8.5% cash discount. To get the
Financial Math
(1 point) Suzie wants to buy a car for $6500. If she pays cash she receives a 8.5% cash discount. To get the cash she signs a 120-day non-interest bearing note. If the bank discounts notes at an interest rate of 5% what face value is needed on the note for Suzie to receive the cash she needs to buy the car? Answer: $ 6046.901114 I use pe IV.(1-dt) P=6500x (1-8,5%) =5947.5 IV = P 5947.5 T- dt 1-5%* - for the t value, I tried tho 12 12 12 15 I didn't round up / down the answers, and all the answers are wrongStep by Step Solution
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