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OpenStudy (anonymous):
A $15,000, 11 percent, 120-day note, dated Sept. 3, is discounted on Nov. 11. Assuming a bank discount rate of 9 percent, the proceeds would be____________. 1. $15,550.00 2. $15,351.74 3. $15,531.74 4. $15,135.47
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OpenStudy (anonymous):
whats the formula
OpenStudy (anonymous):
it's test online the question like this
OpenStudy (anonymous):
For example, suppose there is a government bond that sells for $95 and pays $100 in a year's time. The discount rate according to the given definition is
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