The face value on a loan is $11,289, the interest is 6.5%, and the time is 7 months. The bank discounted the note at 12% two months before the maturity of the loan. What is the bank discount?
Correct Answer:
Verified
Q30: What is the ordinary simple interest on
Q31: The face value of a note is
Q32: The face value of a note is
Q33: What is the compound interest earned at
Q34: What is the compound amount if Alicia
Q36: What is the time on a $14,500
Q37: What is the difference between the exact
Q38: What is the simple interest on a
Q39: What is the principal on a 200-day
Q40: Andy invests his savings into an account
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents