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The face value of a single discount note is $12,000. The discount is 6 1/2% for 90 days. Use ordinary interest. Calculate the following:

The face value of a single discount note is $12,000. The discount is 6 1/2% for 90 days. Use ordinary interest. Calculate the following:
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The face value of a single discount note is $12,000. The discount is 6 1/2% for 90 days. Use ordinary interest. Calculate the following:

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User Josh Undefined
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1 Answer

2 votes
90days=3months
I=12,000×0.065×(3÷12)
=195
answered
User Amir Khan
by
7.5k points
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