Ask Question
19 February, 23:53

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

+1
Answers (1)
  1. 20 February, 02:24
    0
    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
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A $8920 note is signed for 160 days at a discount rate of 6.5% find the proceeds ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers