math
posted by Fellippe .
1. A 120day simple discount promissory note for $12,000 with a simple discount rate of 9% was signed on July 14. It was discounted on August 30 at 9.5%. Find the proceeds at the time of the sale.
2. 8. A $15,000 Tbill is purchased at a 3.85% discount rate for 16 weeks. Find (a) the purchase price of the Tbill, (b) the maturity value, (c) the interest earned, (d) the effective rate of interest to the nearest hundredth of a percent.
Respond to this Question
Similar Questions

algebra
A local bank lends $12,000 using a 150day 9% simple interest note that was signed on May 18. The bank later sells the note at a discount of 14% on July 5. Find (a) the discount, (b) the proceeds, and (c) the amount of money the bank … 
algebra
A 120day simple discount promissory note for $12,000 with a simple discount rate of 9% was signed on July 14. It was discounted on August 30 at 9.5%. Find the proceeds at the time of the sale. 
math/Finance
I want to know the formula to use 1. A 120day simple discount promissory note for $12,000 with a simple discount rate of 9% was signed on July 14. It was discounted on August 30 at 9.5%. Find the proceeds at the time of the sale. … 
math
Home health signed a 90,000 note at 11 1/2% simple interest for 180 days for electronic equipment, on October 1. On February 18, the note was sold to another firm at a discount rate of 12 1/2%. Find a) the discount period, b) the discount, … 
business Math
Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed. a. Calculate the simple interest … 
business math
toby signed a simple discount promissory note for $20,000. the discount rate is 8.5%, and the term of the note is 90 days. what are toby's proceeds on the loan? 
business math
Israel signed a simple discount promissory note for $15,000. The discount rate is 7.5%, and the term of the note is 120 days. What are Israel’s proceeds on the loan? 
math
Webster Digital received a promissory note of $8,000 for 9 months at 7% simple interest from one of its customers. After 4 months, the note was discounted at Bank of Aventura at a discount rate of 10%. What are the proceeds Webster … 
math
Israel signed a simple discount promissory note for $15,000. The discount rate is 7.5%, and the term of the note is 120 days. What are Israel’s proceeds on the loan? 
math
Jungle Warehouse signed a 9month simple discount note with a face value of $5,600. Find the proceeds if the discount rate is 13%