AlexGaming3303 AlexGaming3303

04-12-2017
Business

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What are the proceeds of a note for $5,500 at a discount rate of 8%, for 30 months?

Respuesta :

ahmedishaal ahmedishaal

14-12-2017

A = Prt
here
p = 5500
r = 8% = 0.08
t = 30 / 12
Putting the values in the formula you will get

a=(5500) x (0.08) x (30/12)
a = 5500 x 0.2 = 1100

Thus, the answer is 1100.

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