Question: A person signed a 210-day simple discount note with a face value of $12,000 and a rate of 14% on Feb. 19. The londer sells
A person signed a 210-day simple discount note with a face value of $12,000 and a rate of 14% on Feb. 19. The londer sells the note at a discount of 13% on July 20 Find the proceeds of the original note, the discount period, the discount and the proceeds at the sale of the note on July 20. Use banker's interest of 360 days Click the icon to view the Number of Each of the Days of the Year sable The proceeds of the original note are so (Round to the nearest cont) The discount period is days The discount is 5 (Round to the nearest cent) The proceeds of the sale of the note on July 20 are s
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
