Search 74,178 tutors
FIND TUTORS
Ask a question
0 0

A man holds a note of $5k that has an interest rate of 14% annually. The note was made on March 17 and is due Nov 12.

A man holds a note of $5k that has an interest rate of 14% annually. The note was made on March 17 and is due Nov 12. He sells the note to a bank on 6/12 at a discount rate of 13% annually. Find the proceeds on the 3rd party discount note: (Use the banker's rule).

No answers . . . yet!