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?

  1. 👍 0
  2. 👎 0
  3. 👁 244

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    a man has a simple discount note for $6,400 at an ordinary bank discount rate of 8.53% for 40 days what is the effective interest rate

    asked by Anonymous on April 22, 2017
  2. math

    A man makes a simple discount note with a face value of $2,200, a term of 140 days, and a 9% discount rate. Find the discount.

    asked by A on May 16, 2015
  3. 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

    asked by marie on April 7, 2014
  4. 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?

    asked by Angie on May 6, 2016
  5. math

    Jungle Warehouse signed a 9-month simple discount note with a face value of $5,600. Find the proceeds if the discount rate is 13%

    asked by mac on April 8, 2017
  1. Promissory notes

    Hafers, an electrical supply company, sold 4800.00 of equipment to Jim Coates Wing, INC Coates signed a promissory note May 12 with 4.5% intrest. The due date was August 10. Short of funds, Hafers contacted Charter One Bank on

    asked by Scott on March 16, 2008
  2. Business financing

    If you sign a simple discount note for $2500 at a bank rate for 7%, for 3 months, what is the effective interest rate?

    asked by Ashton on April 3, 2016
  3. Accounting1 - ethical issue

    Discount Hardware Wishes to expand its business and has borrowed $200,000 from the Toronto Dominion Bank. As a condition for making this loan, the bank required discount hardware to maintain a current ratio of atleast 1.50 and a

    asked by Christine on August 1, 2007
  4. 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?

    asked by Anonymous on December 18, 2014
  5. 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

    asked by A on May 16, 2015
  6. 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, Reader’s Choice Bookstores. After 20 days, Varsity Press discounted the note at

    asked by keionna on June 15, 2013

You can view more similar questions or ask a new question.