This topic contains a solution. Click here to go to the answer

Author Question: The face value of a note is 10,000 with an interest rate of 8.5. The time is based on 180 days in a ... (Read 75 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
The face value of a note is 10,000 with an interest rate of 8.5. The time is based on 180 days in a 360-day year. The note has been discounted at 14 three months before the maturity of the note. How much are the proceeds?

Question 2

What is the interest rate on a 2-year loan for 5,500 which accrues 1,430 in ordinary simple interest? Round to the nearest whole percent.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

BAOCHAU2803

  • Sr. Member
  • ****
  • Posts: 316
Answer to Question 1

10,060.12;

Answer to Question 2

13;




penza

  • Member
  • Posts: 1,022
Reply 2 on: Jun 24, 2018
Wow, this really help


essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

For a complete list of videos, visit our video library