Select the correct option: (1) A (n) __________ discount note is made when a bank buys a
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Question:
Select the correct option:
(1) A (n) __________ discount note is made when a bank buys a promissory note from a business.
(a) third-party
(b) Simple
(c) Promissory
(d) Corporate
(2) I = PRT is the __________.
(a) Exact interest formula
(b) Ordinary interest formula
(c) Simple interest formula
(d) Compound interest formula
(3) Which months have 30 days?
(a) August, June, September, November
(b) May, April, June, November
(c) February, June, September, November
(d) April, June, September, November
(4) Find the maturity value of a $7,465 loan at 6 1/8% for three years.
(a) $8,836.69
(b) $1,371.69
(c) $457.23
(d) $7,922.23
Expert Answer:
Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
Posted Date:
