Quiz: Quiz: Chapters 8, 9, and 10 nis Question: 4 pts Length of Loan (Days) Date...

 

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Quiz: Quiz: Chapters 8, 9, and 10 nis Question: 4 pts Length of Loan (Days) Date of Discount 160 days April 3 Click the icon to view the Number of Each of the Days of the Year table. Loan Made on January 15 First, find the initial proceeds of the following simple discount note. Each note is then discounted at 11% on April 3. Find the discount period, the discount, and the proceeds after discounting Use banker's interest of 360 days. Maturity Value $25,000 The initial proceeds are $ (Round to the nearest cent as needed.) The discount period is days. The discount is $ (Round to the nearest cent as needed.) The proceeds at the time of sale are: Rate % 7.5% 20 of 26 Enter your answer in each of the answer boxes. Save for Later Submit Qui This Quiz: 53 pts possib Quiz: Quiz: Chapters 8, 9, and 10 nis Question: 4 pts Length of Loan (Days) Date of Discount 160 days April 3 Click the icon to view the Number of Each of the Days of the Year table. Loan Made on January 15 First, find the initial proceeds of the following simple discount note. Each note is then discounted at 11% on April 3. Find the discount period, the discount, and the proceeds after discounting Use banker's interest of 360 days. Maturity Value $25,000 The initial proceeds are $ (Round to the nearest cent as needed.) The discount period is days. The discount is $ (Round to the nearest cent as needed.) The proceeds at the time of sale are: Rate % 7.5% 20 of 26 Enter your answer in each of the answer boxes. Save for Later Submit Qui This Quiz: 53 pts possib

Answer rating: 100% (QA)

Question Bank discount Face value discount rate time or B MDT M 25000 D 0075 and T 160360 B ... View the full answer