Chat with AI
Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050 Exercise 3
Bank of America borrowed $80,000,000 at 5, interest for 180 days from a Japanese investment house. At the same time, the bank made the following three loans, each for the exact same 180-day period:
An 8, simple discount note for $14,500,000 to a Louisiana company building minesweepers in New Orleans for the British government.
(a) Find the difference between interest received and interest paid by the bank on these funds. _____________
An 8, simple discount note for $14,500,000 to a Louisiana company building minesweepers in New Orleans for the British government.
(a) Find the difference between interest received and interest paid by the bank on these funds. _____________
Explanation
Verified
Verified
Consider the simple interest note to the...
Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
