J. Smith has a note with a face value (principal) of $10,000 at 6% for 90 days. He wants to discount the note after 30 days; the bank is offering a discount rate of 8%. What is the bank discount? (round to nearest cent)

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03-06-2024
Mathematics

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J. Smith has a note with a face value (principal) of $10,000 at 6% for 90 days. He wants to discount the note after 30 days; the bank is offering a discount rate of 8%. What is the bank discount? (round to nearest cent)

Sagot :

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