Question

Bill Beck signed a $10,000 simple discount promissory note at a bank discount rate of 13%. if the term of the value was 125 days, what was the effective interest rate of the note? round the answer to the business hundredth of a percent..

COULD YOU ANSWER THIS PLSSSSS >.<

Answer 1

is 10,000 what bill beck got ?

Answer 2

the bank discounts the interest from the loan upfront,

Answer 3

10,000*.13*125/365

Answer 4

COULD YOU ANSWER THIS PLSSSSS >.<
As As the breeding season progresses, penguin parents have to devote a bigger proportion of their catch
to feed their chicks, until they fledge and are able to feed by themselves. The following equation
describes this phenomenon, where P is the proportion of prey given to chicks and t is time in weeks
over the course of the breeding season: P(t) = 100t^2/(200+t^2).
Do you think P(t) adquately describes penguin feeding behavior over the course of a penguin's life? Explain your answer based on the equation given.Determine the function that describes the
rate of change in the feeding behavior of the penguin parents.
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___________

Answer 5

ARGHHHGHHHHHH ..grrrrr

Answer 6

barry... i actually not understand the question... the question say want in RATE.. means in percent...

Answer 7

yes percent

Answer 8

10,000*.13*125/365
is the interest not percent..

Answer 9

huh?

Answer 10

it just the interest u get after 125 days... so u use the annual instrest times 125/360...

Answer 11

*interest

Answer 12

now what > find discount

Answer 13

effective interest rate

Answer 14

.. sorry.. ok... i understand the question already...
actually 13% is the discount rate @ 125 day...
while effective interest rate is the annual rate...
so 10000 x 13% is the interest in 125 day => 1300
then the 1300 x 360/125 to get the annual interest => 3744
then ans / 10000 x100% to get the rate in percentage.... => 37.4%
i dont know the meaning of promissory note so maybe the ans is wrong... pls dont blame me....