Solution-Calculate bank discount and proceeds

Calculate bank discount and proceeds

Reference no: EM133182731

Question - Mark Price, the owner of Biggie's Restaurant, took a simple discount note for two years from PNC Bank for renovations. His loan was for $10,000 at a 6% discount rate. Calculate (A) bank discount, (B) proceeds, (C) effective rate to the nearest tenth.

Reference no: EM133182731

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Calculate bank discount and proceeds

Reference no: EM133182731

Reference no: EM133182731

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