Register
What are the proceeds of a note for $5,500 at a discount rate of 8%, for 30 months?
33.6k views
2 votes
What are the proceeds of a note for $5,500 at a discount rate of 8%, for 30 months?

User Napentathol
by
6.7k points

1 Answer

6 votes
A = Prt
here
p = 5500
r = 8% = 0.08
t = 30 / 12
Putting the values in the formula you will get

a=(5500) x (0.08) x (30/12)
a = 5500 x 0.2 = 1100

Thus, the answer is 1100.
User Daniel Loudon
by
7.0k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

7.2m questions

9.5m answers

Other Questions

What is meant by data mining ?
Identify the advantages and disadvantages of a command economy.
How can life expectancy and literacy rates affect the quality of labor in the economy?
Analyze and identify the role of the government in a free enterprise economy.
A politician wants to see what people in her district think about tax cuts. Which procedure would be a good way of conducting a survey
Link Copied!