College Math
posted by Lisa .
i'm having trouble calculating this. can someone help please?
A $7,000, 4%, 120day note, dated March 20, is discounted on July 15. Assuming a 3% discount rate, the bank discount is:
a) $1.74
b) $1.77
c) $7.11
d) $17.68
e) None of these
.

answer is b

. Solve for the unknown in the equation.
3x – 1 = 8