Complete the following table for this simple discount note. Use the ordinary int
ID: 2704399 • Letter: C
Question
Complete the following table for this simple discount note. Use the ordinary interest method. (Use 360 days a year. Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)
Complete the following table for this simple discount note. Use the ordinary interest method. (Use 360 days a year. Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)
Complete the following table for this simple discount note. Use the ordinary interest method.Explanation / Answer
Bank Discount = 20500*8.5/100 * 246/360
= 1190.71
Proceeds = 20500-1190.71
= 19309.29