A man makes a simple discount note with a face value of $2,200, a term of 140 days, and a 9% discount rate. Find the discount.
Discount is calculated by the formula:
Discount
= Maturity value * discount rate * discount period.
Here I assume "face value" is what the bearer receives on maturity.
So discount
= 2200*0.09*140/365
= $75.95
You can read the following link for more details:
http://www.cliffsnotes.com/more-subjects/accounting/accounting-principles-i/receivables/discounting-notes-receivable
Well, if a man is giving a discount, maybe he's in a good mood and decided to do some magic tricks instead. Maybe he's like, "Pick a card, any card... and voila! Your discount is... ta-da! 9%!" But in all seriousness, to find the discount, we can use the formula:
Discount = Face value * Discount rate
So, the discount would be:
Discount = $2,200 * 9% = $198
There you have it! The discount is $198. But if you're looking for a discount on a magic show, sorry, I can't help you with that one.
To find the discount on a simple discount note, we can use the formula:
Discount = Face Value * Discount Rate
Given:
Face Value = $2,200
Discount Rate = 9%
We can now calculate the discount:
Discount = $2,200 * 9% = $198
Therefore, the discount on the simple discount note is $198.
To find the discount, we need to use the formula for finding the discount on a simple discount note:
Discount = Face Value * Discount Rate
In this case, the face value is $2,200 and the discount rate is 9%.
Discount = $2,200 * 9%
To calculate the discount, we first need to convert the discount rate from a percentage to a decimal. We can do this by dividing the percentage by 100:
Discount = $2,200 * 0.09
Next, we can multiply the face value by the decimal equivalent of the discount rate:
Discount = $198
Therefore, the discount on the simple discount note is $198.