Compute bank discount using (A)ordinary interest, (B)proceeds, and (C)effective interest rate to nearest hundredth. Do not round denominator in your calculation.
$$\begin{array} { | l | l | l | }
\hline \text { Face Value } & \text { Discount Rate } & \text { Time in Days } \
\hline \$ 12,000 & 13 \% & 120 \
\hline
\end{array}$$

Question

Compute bank discount using (A)ordinary interest, (B)proceeds, and (C)effective interest rate to nearest hundredth. Do not round denominator in your calculation.
 $$\begin{array} { | l | l | l | } 
\hline \text { Face Value } & \text { Discount Rate } & \text { Time in Days } \
\hline \$ 12,000 & 13 \% & 120 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Compute bank discount using (A)ordinary interest, (B)proceeds, and (C)effective interest rate to nearest hundredth. Do not round denominator in your calculation.
 $$\begin{array} { | l | l | l | } 
\hline \text { Face Value } & \text { Discount Rate } & \text { Time in Days } \
\hline \$ 12,000 & 13 \% & 120 \
\hline
\end{array}$$

Compute Bank Discount Using (A)ordinary Interest, (B)proceeds, and (C)effective Interest