Question
Calculate (a) interest and maturity value, (b) discount period, (c) bank discount, and (d) proceeds. Assume ordinary interest. (Round answers to nearest hundredths)
Date of note Face value Length of note Interest rate Bank discount rate Date of discount
Feb. 12 $80,000 150 days 8% 4% Jun 12
Date of note Face value Length of note Interest rate Bank discount rate Date of discount
Feb. 12 $80,000 150 days 8% 4% Jun 12
Answers
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