Thursday
October 2, 2014

Homework Help: math

Posted by fizz on Tuesday, May 13, 2014 at 8:13am.

A 7%,6O day note was discounted at 15 days before the maturity date. If the discount rate was 5.5% and the proceeds received were $ 997,77,find

a)the amount of discount that was charged
b)face vaalue

what is the formula

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