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leonid [27]
3 years ago
11

Find the proceeds for the simple discount note.

Mathematics
2 answers:
lutik1710 [3]3 years ago
5 0
Given:
Face Value $15,000
Discount rate 6.5%
Term 70 days

Discount for a simple discount note:
Discount = Maturity Value * Discount Rate * Term of Note
Discount = 15,000 * 0.065 * 70/360 
Discount =   189.58

Proceeds from Simple Discount note:
Proceeds = Maturity Value - Discount
Proceeds = 15,000 - 189.58
Proceeds = 14,810.42

The proceeds for the simple discount note is $14,810.42. Choice C. 
Dmitry [639]3 years ago
4 0

Answer:

Step-by-step explanation:

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