Question: A man makes a simple discount note with a face value of 2400 a term of 180 days and a 9% discount rate. Find the

A man makes a simple discount note with a face value of 2400 a term of 180 days and a 9% discount rate. Find the discount

HOMEWORK. OfIt . Lab MIL Graded Practice Score: 0 of 3 pts 16 of 20 (13 complete) 11.3.1 A man makes a simple discount note with a face value of $2,400, a term of 180 days, and a 9% discount rate. Find the discount. (Use the banker's rule.) The discount is $ . (Round to the nearest dollar as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

MM255 Business Math and Statistical Measures Amber B Homework: Unit 3 Lab MML Graded Practice Score: 0 of 3 pts 16 of 20 (6 complete) 11.3.1 A man makes a simple discount note with a face value of...

A man makes a simple discount note with the face value of 2400, a term of 120 days and an 18% discount rate. Find the discount. (USE THE BANKERS RULE)The discount is $___? (Round to the nearest cent...

1-Find the interest paid on a loan of $2,400 for twoyears at a simple interest rate of 10% per year. 2-Find the maturity value of a loan of $600 after three years. The loan carries a simple interest...

1-Find the interest paid on a loan of $2,400 for two years at a simple interest rate of 10% per year. 2-Find the maturity value of a loan of $600 after three years. The loan carries a simple interest...

10,11, and 13 are done already. 1.) Find the interest paid on a loan of $2,500 for three years at a simple interest rate of 11 % per year. 2.) Find the maturity value of a loan of $1.000 after two...

Quiz:Quiz 3 Chapter 11 Question 1 of 14 This quiz: 14 point(s) possible This question: 1 point(s) possible Resume laterSubmit quiz Question content area top Part 1 Find the interest paid on a loan of...

6.) A man took out a $48,000 construction loan to remodela house. The loan rate is 8.3 % simple interest per year to be repaid in six months. How much is paid back? 7.) A man needed money to buy lawn...

Anyone get this? A man makes a simple discount note with a face value of $1600, a term of 120 days, and a 9% discount rate. Find the discount. (Use the banker's rule.) The discount is E. [Round to...

A man makes a simple discount note with a face value of $ 2,500 , a term of 140 days, and a 9 % discount rate. Find the discount.(Use thebanker's rule.) The discount is $ (Round to the nearest dollar...

A man makes a simple discount note with a face value of $2,500, a term of 140 days, and a 9% discount rate. Find the discount. (Use the banker's rule.)

Brody Corp. uses a process costing system. Beginning inventory for January consisted of 1,400 units that were 46% completed. 10,300 units were started during January. On January 31, the inventory...

Mandarin Manufacturing Company uses a process cost system with FIFO method of costing to account for cost. Units of product are started in the Forming Dept. and then transferred to the Finishing...

What conclusions can you reach? Choose the correct answer below. The terminal project balance is the same as the net future worth of the project. The terminal project balance is always less than the...

Yolanda Hagen, a former disc golf star, operates Yolandas Discorama. At the beginning of the current season on April 1 , the ledger of Yolandas Discorama showed Cash $1,800, Inventory $2,500, and...