Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need help with homework problems 1. discount on a 180 day note if the interest rate is 16.7% and the maturity value is $8,500. 2.)

need help with homework problems

1. discount on a 180 day note if the interest rate is 16.7% and the maturity value is $8,500.

2.) If the consumer receives proceeds of $2,475.00 on a 90 day note with a discount rate Find the of 15.5%, then what is the maturity value?

3). To the nearest day what is the time period on a 9% note if the bank discount is maturity value is $8,000 and the proceeds to the borrower are $7,840?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Numerical Analysis

Authors: Richard L. Burden, J. Douglas Faires

9th edition

538733519, 978-1133169338, 1133169333, 978-0538733519

More Books

Students also viewed these Mathematics questions