question archive JAB Consulting received a promissory note of $11,500 at 7% simple interest for 15 months from one of its customers
JAB Consulting received a promissory note of $11,500 at 7% simple interest for 15 months from one of its customers
Subject:FinancePrice: Bought3
JAB Consulting received a promissory note of $11,500 at 7% simple interest for 15 months from one of its customers. After 6 months, Grove Isle Bank discounted the note at a discount rate of 8% Calculate the proceeds (in $) that JAB Consulting will receive from the discounted note. Round your answer to the nearest cent. (Show work)
-Carlos takes out a loan for $10,400, at 8% ordinary interest. If the amount of interest is $249.60, what is the time period (in days) of the loan? Round any fraction to the next higher day. (Show work)
