Using ordinary interest, 360 days, calculate the missing information for the simple discount note. (Round dollars to the nearest cent.) Face Value Discount Rate (%) Date of Note Term (days) Maturity Date Bank Discount (in $) Proceeds (in $) $78,000 5 May 3 52 select    ___

Q: Find the interest rate for each deposit and compound amount. 6) $8000 accumulating to $12,384.48,…

A: Recall the following fact.

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A: Accrued Interest=PRT=1000×0.097×23360=$ 6.19722=$6.20

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A: Accrued Interest=PRT=1000×0.10525×85360=$25.85069

Q: Using ordinary interest, 360 days, calculate the missing information for the simple discount note.…

A: find below

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A: Initial amount (P) =$4000 Interest rate (r) = 2.9% = 0.029 Time (T)  = 2 years

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A: To find the effective interest rate basically there are three steps involved Step1: Find the bank…

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A: