Posted by **Lisa** on Thursday, November 8, 2012 at 1:35pm.

i'm having trouble calculating this. can someone help please?

A $7,000, 4%, 120-day note, dated March 20, is discounted on July 15. Assuming a 3% discount rate, the bank discount is:

a) $1.74

b) $1.77

c) $7.11

d) $17.68

e) None of these

.

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