Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The bank discounts in $8750 on interest bearing simple discount note at 6% for 60 days what is the discount amount? The bank discounts an

image text in transcribed

The bank discounts in $8750 on interest bearing simple discount note at 6% for 60 days what is the discount amount?

The bank discounts an $8,750 non-interest-bearing simple discount note at 6% for 60 days. What is the discount amount? O $8.75 O $87.50 O None of these O $78.50 O $86.30

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

State Owned Enterprise In The Western Economies

Authors: Raymond Vernon , Yair Aharoni

1st Edition

0415727596,1317917685

More Books

Students also viewed these Finance questions