Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Exercise 164

Jan Guerra lends $9000 to her second cousin using a 180-day 10% simple interest note that was signed on October 30. Guerra subsequently has a car accident and desperately needs money, so she sells the note at a discount of 15% on January 3 to an investor. Find (a) the discount, _____________ (b) the proceeds, _____________ and (c) the amount of money Guerra gains or loses. _____________