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10 November, 05:04

Find the discount on a note for $23,000 made by Jacques on February 10 to be repaid on August 10 of the same year with a discount rate of 9%.?

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  1. 10 November, 08:09
    0
    Let:

    S = 23000

    d = 0.09

    n = 6/12

    I' = Sdn

    I' = 23000*.09*0.5 = $1035
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