6) Jorge makes a simple discount note with a face value of $6000.00, a term of 2

Business & Finance
Tutor: None Selected Time limit: 1 Day

6) Jorge makes a simple discount note with a face value of $6000.00, a term of 240 days, and a 10% discount rate. Find the discount. 

A) Discount: $600.00 

B) Discount: $400.00 

C) Discount: $0.00 

D) Discount: $394.52

Apr 26th, 2015

240/365 x 10% gives you the amount it will be discounted (you're taking the annual rate and converting it to a period rate). This times the face value gives you

D) 394.52

Apr 26th, 2015

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