Find the discount and proceeds on a $66,900.00 face-value note for 100 days if t

label Business
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Find the discount and proceeds on a $66,900.00 face-value note for 100 days if the discount rate is 9.75%. 

A) Discount = $1811.88 Proceeds = $65,088.12 

B) Discount = $0.00 Proceeds = $66,900.00 

C) Discount = $6522.75 Proceeds = $60,377.25 

D) Discount = $1787.05 Proceeds = $65,112.95

Apr 26th, 2015

Discount for 1 year = 66900× 9.75%

    = 6522.75

Hence discount for 100 days = 6522.75×100/365 = 1787.05

Correct option : D

Apr 26th, 2015

Georgia agrees to lend money to Matt at a special interest rate of 9.9% per year, on the condition that he borrow enough that he would pay her $573 in interest over a 9 month period. What was the minimum amount Matt could borrow? 

A) $8681.82 

B) $6945.45 

C) $7652.86 

D) $7717.17

Apr 26th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Apr 26th, 2015
...
Apr 26th, 2015
Aug 23rd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer