Jungle Warehouse signed a 9-month simple discount note with a face value of $5,600. Find the proceeds if the discount rate is 13%

You multiply 3/4 by 5600 and .13

That will be the answer. It is a formula. If I remember it is I=prt. Time=9/12=3/4. r=rate=.13 and part=5600.

That is the answer

To find the proceeds of the simple discount note, you need to understand the key components of the calculation: the face value, the discount rate, and the time period.

The face value of the note is given as $5,600. This represents the amount of money that Jungle Warehouse will receive at maturity.

The discount rate is 13%. This is the rate at which the face value of the note will be discounted to determine the proceeds received by Jungle Warehouse upfront.

The time period of the note is 9 months. This duration is important because it affects the amount of the discount.

To calculate the discount amount, you need to multiply the face value by the discount rate. In this case, the discount amount is:

Discount Amount = Face Value * Discount Rate

Discount Amount = $5,600 * 0.13

Discount Amount = $728

The discount amount represents the reduction in the face value of the note. Subtracting the discount amount from the face value will give you the proceeds received by Jungle Warehouse:

Proceeds = Face Value - Discount Amount

Proceeds = $5,600 - $728

Proceeds = $4,872

Therefore, the proceeds that Jungle Warehouse will receive for the 9-month simple discount note with a face value of $5,600 and a discount rate of 13% is $4,872.

To calculate the proceeds of the simple discount note, we need to subtract the discount from the face value.

Step 1: Calculate the discount.
Discount = Face Value * Discount Rate
= $5,600 * 13%
= $5,600 * 0.13
= $728

Step 2: Calculate the proceeds.
Proceeds = Face Value - Discount
= $5,600 - $728
= $4,872

Therefore, the proceeds of the simple discount note are $4,872.