what are the proceeds of a $9,500 note at a 12% discount rate for 8 months? round your answer to the nearest c?

Posted in May 5, 2009 ¬ 5:46 pmh. admin
C Note
aliza_jasani:


A) $760.00
B) $912.00
C)$5,573.33
D)$8,740.00

Personal Finance ,

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One Comment

  1. Keith B Says:

    A. Exactly to the cent. (when rounded to the nearest cent)

    9500 / 100 * 12 = 1140 (interest earned over full year

    1140 / 365 = 3.12328767123… = (interest earned daily, which based on UK banking, is how most banks work out interest)

    3.12…. * 243.333333……

    759.9999999999999999999999999

    May 7th, 2009 at 9:58 pm

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