This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Kelly borrowed 3,000 with an interest rate of 7.2. The time is based on 90 days in a 360-day year ... (Read 154 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
on: Jun 24, 2018
Kelly borrowed 3,000 with an interest rate of 7.2. The time is based on 90 days in a 360-day year and the loan was taken out on August 19. The note has been discounted 14 on October 10. What are the proceeds?

Question 2

The face value on a loan is 11,289, the interest is 6.5, and the time is 7 months. The bank discounted the note at 12 two months before the maturity of the loan. What is the bank discount?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pratush dev

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 24, 2018
Answer to Question 1

3,008.87;

Answer to Question 2

240.46;


joblessjake

  • Member
  • Posts: 555
Reply 2 on: Jun 24, 2018
Gracias!

laurnthompson

  • Member
  • Posts: 334
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Rate enhancement by entropy reduction Rate enhancement by entropy reduction
Factors that Influence Pulse Rate Factors that Influence Pulse Rate
How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.) How lateral inhibition produces contrast enhancement. (Based on Ratliff, 1972.)
Annual Mean Number of Days with Thunder Annual Mean Number of Days with Thunder
Disitive Time For Nuts Disitive Time For Nuts
Estimated number of new HIV infections per year over time period in Canada Estimated number of new HIV infections per year over time period in Canada
Video: Protein Secondary and Tertiary Structures - Animation

For a complete list of videos, visit our video library