Math

posted by .

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 -

    $2000*.09=$180 $180*6months= $1080

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. algebra

    A 120-day 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. math

    1. A 120-day 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 T-bill is purchased …
  3. math/Finance

    I want to know the formula to use 1. A 120-day 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. …
  4. 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, …
  5. 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 …
  6. 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%.
  7. 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 …
  8. math

    a man holds a note of $6,000 that has an interest rate of 13% annually the note was made on march 17 and is due november 11 he sells the note to a bank on june 14 at a discount rate of 12% annually find the proceeds on the third-party …
  9. maths

    a man holds a note of $6,000 that has an interest rate of 13% annually the note was made on march 17 and is due november 11 he sells the note to a bank on june 14 at a discount rate of 12% annually find the proceeds on the third-party …
  10. 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 …

More Similar Questions