Question
In calculating the bank discount when discounting an interest-bearing note, which one of the following
is not used in the calculation?
A. Discount period
B. Bank discount rate
C. Principal proceeds
B is my answer
is not used in the calculation?
A. Discount period
B. Bank discount rate
C. Principal proceeds
B is my answer
Answers
Related Questions
A local bank lends $12,000 using a 150-day 9% simple interest note that was signed on May 18. The ba...
a man holds a note of $6,000 that has an interest rate of 13% annually the note was made on march 17...
Calculate (a) interest and maturity value, (b) discount period, (c) bank discount, and (d) proceeds....
Ray furniture wants to buy a dining room set for $7,000 with a 20% trade discount. Considering a 90-...