The face values of a simple interest note and bank discount note are $8,000 each. Assume both

Question:

The face values of a simple interest note and bank discount note are $8,000 each. Assume both notes have 8.75 percent interest rates for 60 days. Calculate the following:
a. The amount of interest charged for each.
b. The value of the simple interest note.
c. The value of the bank discount note.
d. The amount the borrower receives for the simple interest note.
e. The amount the borrower receives for the bank discount note. Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...