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

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 80 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
on: Jun 24, 2018
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
Reply #1 on: Jun 24, 2018
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

kalskdjl1212

  • Member
  • Posts: 353
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Empathy draws a more positive response from the patient because it is based on the willingness of th Empathy draws a more positive response from the patient because it is based on the willingness of th
For a time Dr. Seuss—Theodor Seuss Geisel—drew political cartoons. This one, published in ... For a time Dr. Seuss—Theodor Seuss Geisel—drew political cartoons. This one, published in ...
A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ... A typical open-end wrench. Note the size difference on each end and that the head is angled 15 ...
The slight (5 microsecond) difference in the firing of the companion cylinders is enough time to ... The slight (5 microsecond) difference in the firing of the companion cylinders is enough time to ...
Cutaneous granulomatous lesions on the face of a man suffering from a dermatophytic infection. Cutaneous granulomatous lesions on the face of a man suffering from a dermatophytic infection.
How to calculate simple interest (Part 2) How to calculate simple interest (Part 2)
Video: Power Supply Polyacrylamide Gel Protein Sample

For a complete list of videos, visit our video library