work test
posted by peg .
ryan discounts an 80day note for $15,000 at 12 percent. the bank discount is: (assume ordinary interest)
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 … 
Math
Lisa borrowed 8,000 on an 8% , 60 day note after 15 days she paid 2,000 on the note on day 45 she paid 1,000 on the note what is the total interest and ending balance due by the us rule of ordinary interest. 
finance math
Schell Publishing received a $70,000 promissory note at 12% ordinary interest for 60 days from one of its customers. After 20 days, Schell discounted the note at the bank at a discount rate of 14.5%. The note was made on March 21. … 
accounting
a simple discount note for $6,600 at a ordinary bank discount rate of 8.61% for 60 days. What is the effective interest rate? 
Math
Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2007, and payable to First State Bank on August 10, 2007, with a discount rate of 9%. 
Math
Find (a) the exact interest and (b) the ordinary interest. Round answers to the nearest cent Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2007, and payable … 
Math
Find (a) the exact interest and (b) the ordinary interest. Round answers to the nearest cent Malinda Levi borrows $12,000 on a 9.5% , 90 day note. On the 30th day, Malinda pays $4,000 on the note. If ordinary interest is applied, what … 
Math
Find the discount (ordinary interest) and proceeds on a promissory note for $2,000 made by Barbara Jones on February 10, 2007, and payable to First State Bank on August 10, 2007, with a discount rate of 9%. 
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 … 
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 …