sheant2 sheant2
  • 02-12-2017
  • Mathematics
contestada

A $8920 note is signed for 160 days at a discount rate of 6.5% find the proceeds

Respuesta :

meerkat18
meerkat18 meerkat18
  • 14-12-2017
Since it's not mentioned in the problem, it can be safely assumed that the discount rate is 6.5% daily. For this problem, we use the formula:

F = P(1+rn)
where
r is the discount rate
n is the number of days
P is the original amount

F = $8920(1+0.065*160)
F = $101,688
Answer Link

Otras preguntas

what is the kingdom and phylum of a euglena protest?
Which of the allies suffered the greatest losses on D-Day
least number that has 2, 3, 4, as factors
What is 0.05 percent of 6.5?
What were some events/things that caused the Great Depression?
The unstated purpose of the Alien and Sedition Acts was to (A) unite the nation in time of danger (B) deport immigrants who were becoming too numerous (C) prote
Why were people from Africa brought to Georgia?
Which of the allies suffered the greatest losses on D-Day
Why were people from Africa brought to Georgia?
Why does Louis XIV want to expand France's border?