algebra
posted by Felicia .
The following note was discounted at 16%. Find (a) the discount period, (b) the discount, and (c) the proceeds.
Date loan was made: March 15
Face Value: $6000
Length of Loan: 75 days
Rate: 6%
Date of Discount: April 5
Respond to this Question
Similar Questions

Business Math
Date of Note March 11, length of note 200 days, Date of discount, June 28. What is the maturity date and the discount period, no leap years, exact days 
business math
loan made july 15, length of loan 150, date of discount november 20. how many days is the discount period 
math
what is the discount period, bank discount, and proceeds on 25000.00 at 9% for 60 days, date of note is June 8 and date note discounted is July 10? 
contemporary math
Varsity Press, a publisher of college textbooks, received a $70,000 promissory note at 12% ordinary interest for 60 days from one of its customers, Readerâ€™s Choice Bookstores. After 20 days, Varsity Press discounted the note at the … 
math
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 
math
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)the discount date if maturity date of the note … 
math(urgent)
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)the discount date if maturity date of the note … 
math
Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Pinnacle Manufacturing received a $40,000 promissory note at 12% simple interest for 95 days from one of its … 
Business math
I have a loan made april 5th, face value 8500 length 90 days, simple interest 8%, discount May 3. what is the discount? 
math bus 105
Calculate (a) interest and maturity value, (b) discount period, (c) bank discount, and (d) proceeds. Assume ordinary interest. (Round answers to nearest hundredths) Date of note Face value Length of note Interest rate Bank discount …