Question
On May 5 a company accepted an $8600 note in settlement of a bill. The note was for 190 days at 8.25% simple interest. If
On May 5 a company accepted an $8600 note in settlement of a bill. The note was for 190 days at 8.25% simple interest. If the company sells the note to a loan company at a 12.5% discount 30 days after receipt, find the bank discount and the proceeds. Non Leap Year
The bank discount is $ ?
(Round to the nearest cent.)
The proceeds are $ ?
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Introduction to Probability
Authors: Mark Daniel Ward, Ellen Gundlach
1st edition
716771098, 978-1319060893, 1319060897, 978-0716771098
