question archive 1) JAB Consulting received a promissory note of $11,500 at 7% simple interest for 15 months from one of its customers
1) JAB Consulting received a promissory note of $11,500 at 7% simple interest for 15 months from one of its customers
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1) 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.
2) 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.
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