Find the discount and proceeds on a $3,250 face-value note for nine months if the discount rate is 9.2%. (Use the banker's rule.) Question content area bottom The discount is ??? (Round to the nearest cent as needed.) Part 2 The proceeds are ??? (Round to the nearest cent as needed.)
Find the discount and proceeds on a $3,250 face-value note for nine months if the discount rate is 9.2%. (Use the banker's rule.) Question content area bottom The discount is ??? (Round to the nearest cent as needed.) Part 2 The proceeds are ??? (Round to the nearest cent as needed.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
Find the discount and proceeds on a $3,250 face-value note for nine months if the discount rate is 9.2%.
(Use the banker's rule.)
(Use the banker's rule.)
Question content area bottom
The discount is ???
(Round to the nearest cent as needed.)
(Round to the nearest cent as needed.)
Part 2
The proceeds are ???
(Round to the nearest cent as needed.)
(Round to the nearest cent as needed.)
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