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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 162
Solve the application problems. Round interest and discount to the nearest cent.
TRACTOR PURCHASE Cook and Daughters Farm Equipment accepts a $5800 simple interest note at 12% for 100 days, for a small used tractor. The note is dated May 12. On June 17% the firm discounts the note at the bank, at a 13% discount rate. Find (a) the bank discount _____________ and (b) the proceeds. _____________
TRACTOR PURCHASE Cook and Daughters Farm Equipment accepts a $5800 simple interest note at 12% for 100 days, for a small used tractor. The note is dated May 12. On June 17% the firm discounts the note at the bank, at a 13% discount rate. Find (a) the bank discount _____________ and (b) the proceeds. _____________
Explanation
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May 12 is day 132, and June 17 is day 16...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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