Mathematics, 26.05.2020 08:58 IsabellaGracie
Paul and Sandy Moede signed an $8,000 note at Citizen’s Bank. Citizen’s charges a 6.50% discount rate. Assume the loan is for 300 days.
Find the proceeds. (Use 360 days a year. Round your intermediate calculations and final answer to the nearest cent.)
Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.)
Answers: 2
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Paul and Sandy Moede signed an $8,000 note at Citizen’s Bank. Citizen’s charges a 6.50% discount rat...
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