Post a New Question

math

posted by on .

1. A 120-day simple discount promissory note for $12,000 with a simple discount rate of 9% was signed on July 14. It was discounted on August 30 at 9.5%. Find the proceeds at the time of the sale.
2. 8. A $15,000 T-bill is purchased at a 3.85% discount rate for 16 weeks. Find (a) the purchase price of the T-bill, (b) the maturity value, (c) the interest earned, (d) the effective rate of interest to the nearest hundredth of a percent.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question