InstructionsCh.11 Quiz

This assessment is worth 100 points.

Compute(a) Bank discount; (b) Proceeds for the following simple discount (use ordinary interest); and (c) the effective interest rate to nearest hundredth percent.

$12,000

10%

125 days

(face)

(disc. rate)

(time)

A. _____________

B. _____________

C. _____________

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