14 -A company in Niterói wants to discount trade bills at a commercial bank that offers it a discount rate of 2% a.m., simple interest. It is known that the 1st duplicate is for R$10,000.00 and is due within 90 days, and that the 2nd duplicate is also for R$10,000.00, but due in 180 days. Considering that the months have 30 days, determine the amount to be credited by the bank to this company's account.
14 -A company in Niterói wants to discount trade bills at a commercial bank that offers it a discount rate of 2% a.m., simple interest. It is known that the 1st duplicate is for R$10,000.00 and is due within 90 days, and that the 2nd duplicate is also for R$10,000.00, but due in 180 days. Considering that the months have 30 days, determine the amount to be credited by the bank to this company's account.
Discounting of bills of exchange/trade bill is a process whereby a bank buys a bill of exchange at a discount. This is typically done when the bill's drawer (the party who owes the bill's payee) does not have sufficient funds to pay the bill when it is due. By discounting the bill, the bank essentially provides the drawer with a short-term loan. The main advantage of this arrangement is that it allows businesses to receive payment for goods or services immediately, rather than having to wait for the bill to come due.
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