Lisa Davidson signed a $12000 note from Springfield national bank at a 5% discount for 222...
Lisa Davidson signed a $12000 note from Springfield national bank at a 5% discount for 222 days. (assume 360 days) Calculate the bank discount.
Homework Answers
| Bank discount = Amount*Rate*Number of days/360 days |
| Bank discount = $12,000*5%*222/360 |
| Bank discount =370 |
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