I am having some trouble with a similar problem except in this problem you have to determine the discount rate and are give several other things; the problem in question is pasted below      Nancy needed ​$8500 to start a web page design company and signed a 200​-day note with a face value of ​$8872.67. Find the discount rate. Use​ banker's interest of 360 days.

Q: Can you please explain in detail how to work out this problem?   Lane French had a bad credit rating…

A: Calculate the interest amount as follows: Interest amount = Loan repaid - Loan taken Interest amount…

Q: 3 After researching the cost of a shredder for your online business, you settle on a more expensive…

A: Step 1: List the details based on the problem: Amount: $1,399Date: August 22Payment on: September…

Q: Write an equation that models the relationship between the amounts loaned from each bank.

A: Let, Let x represent the amount of money loaned at 3%.  Let y represent the amount loaned at 4%.…

Q: As a jewelry store manager, you want to offer credit, with interest on outstanding balances paid…

A: Nominal rate compounded quarterly from your bank(r) =5%Number of compounding(n) =12

Q: When preparing for a business trip to China, Kaylee Putbrese borrow for a simple discount note at 5%…

A: A simple discount, also known as a bank discount, is a financial concept that refers to the interest…

Q: Please show all equations and work as needed. Make the correct answer clear. If possible, please…

A: The computation of net amount is as follows:Hence, the net amount of funds from the loan is $511560.…

Q: What is Vic's monthly interest payment?

A: Interest payment is the payment of amount which has been charged by the lender of the money on the…

Q: Tina Mier must pay a $5,000 furniture bill. A finance company will loan Tina $5,000 for 8 months at…

A: Interest=Rate×Principal×Time×1100

Q: There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes,…

A: A "note" is a written agreement, often referred to as a promissory note, where one party promises to…

Q: A Company borrowed money from a local bank. The note the company signed requires five annual…

A: Number of Payment = n = 5Payment = p = $11,500Interest Rate = r = 7%

Q: There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes,…

A: A note is a formal instrument that expresses an obligation to repay a debt to a creditor or an…

Q: Eddie Craft is offered credit terms of 2/10 net 40 by his suppliers. Eddie, however, usually pays in…

A: The credit terms 2/10 net 40 mean that Eddie Craft is offered a 2% discount if he pays within 10…

Q: Pay day loans are short term loans that you take out against future paychecks: The company advances…

A: Payday loans are short-term loans that can be used to cover emergency expenses or make ends meet in…

Q: My teacher wants us to include our formulas, and factors such as n, I, PMT, FV, and PV

A: The formula used:

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Interest Rate = 6% APR Previous Balance = $1,173 Calculation of Number of days between is as follow:…

Q: There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes,…

A: Notes Payable: Notes payable is one of the financial instruments recorded as the liability in the…

Q: 13. A discounted loan of $3,000 at a simple discount rate of 6.5% is offered to Mr. Jones. If the…

A: A Simple Discount Loan refers to the type of loan where the interest is deducted at the time of…

Q: 1. Lina wants to remodel her kitchen. Her contractor has quoted her $2,500 for the project. Lina…

A: Data given: Principal = $2500 Interest rate = 2% monthly Payment per month = $250

Q: Outline of the case Jessica Hernandez wanted to open a retail outlet in a mall where she could sell…

A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…

Q: Your friend is trying to establish good credit. Your friend is thinking about taking out a $15,000…

A: These days, it is important for individuals to maintain a good credit score or rating. It helps in…

Q: Brandon has reached his credit card limit of $5000.00. Using an online calculator, Brandon…

A: When an investor borrowing money for the purpose of meet the obligations then, the cost that charged…

Q: Helen needed $5500 to start a web page design company and signed a 210-day note with a face value of…

A: Notes are considered as negotiable instruments.that can be issued to get credit for some time.it is…

Q: 1. Barry is going to post-secondary school for three years. Should Barry get a Student Loan or…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: na Mier must pay a $3,500 furniture bill. A finance company will loan Tina $3,500 for 8 months at a…

A:

Q: The first product Suzie represents is a short term loan. Here, customers can borrow small amounts of…

A: Simple Interest: When the interest is charged or paid on a fixed principal over a given period is…

Q: Vijay

A: The objective of the question is to determine whether Paul Stetson should borrow money from his bank…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: To calculate the down payment, we multiply the home price by the down payment percentage. In this…

Q: need help with answering question B: A car loan offered by Bank One requires quarterly payments and…

A: B: We will have to determine the EAR (effective annual rate) in each case and then select the option…

Q: Five years ago, Marty purchased a house of $500,000. He borrowed a mortgage with 80% of LTV (loan…

A: Monthly payment refers to the amount that is paid every month for the repayment of a loan amount…