Question

PLEASE HELP!!!

Martha jones received a $540 discount loan to purchase a new sewing machine. The loan was offered at 12.5% for 90 days. Find the interest in dollar and the proceeds for the following problems.

I think the interest is 16.88

Interest: 15.68
15.48
16.88

Proceeds:523.12
523.52
523.32

Answer 1

16.88

523.12

at least for the question i got

Answer 2

$100 discount loan for 7% 1) Pay back $100 in one year 2) Receive $93, today. $540 discount loan for 12.5% 1) Pay back $540.00 in 90 days. 2) Receive WHAT, today? It's less than