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olga55 [171]
3 years ago
6

JAB Consulting received a promissory note of $13,500 at 7% simple interest for 15 months from one of its customers. After 6 mont

hs, Grove Isle Bank discounted the note at a discount rate of 6% Calculate the proceeds (in $) that JAB Consulting will receive from the discounted note. (Round your answer to the nearest cent.)
Mathematics
1 answer:
Tasya [4]3 years ago
7 0

Answer:

Amount = $14,024 (Approx)

Step-by-step explanation:

Given:

Amount received P = $13,500

Rate r = 7% = 0.07

Time t = 15 month = 15/12 = 1.25 = year

Discount rate = 6% = 0.06

Computation:

Maturity value = P[1+rt]

Maturity value = 13,500[1+(0.07)(1.25)]

Maturity value = $14,685.61

Time = 15 month - 6 month

Time = 9 month = 9/12 = 0.75 year

Amount = MV[1-dt]

Amount = 14,685.61[1-(0.75)(0.06)]

Amount = $14,024 (Approx)

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Then, substituting these values in the plane equation to get the z parameter,

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⇒ z = 2 - cos t - 2sin t

∴ \frac{dx}{dt} = -\sin t

  \frac{dy}{dt} = 2 \cos t

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= \int_{0}^{2\pi}\sqrt{(\frac{dx}{dt})^{2}+(\frac{dy}{dt})^{2}+(\frac{dz}{dt})^{2}

=\int_{0}^{2\pi}\sqrt{(-\sin t)^{2}+(2\cos t)^{2}+(\sin t-2\cos t)^{2}

=\int_{0}^{2\pi}\sqrt{(2\sin t)^{2}+(8\cos t)^{2}-(4\sin t\cos t)

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=\int_{0}^{2\pi}\sqrt{(2\sin t)^{2}+(8\cos t)^{2}-(4\sin t\cos t) = 13.5191




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