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Kowalski’s Drug Store signed a 15-month simple discount note with a face value of $12,300. Find the proceeds if the discount rate is 12%.
$9,840
$12,115.50
$10,455
$1,845
Find the effective rate of interest (APR) for a loan with a loan amount of $17,300, a time of 180 days, and interest of $1,297.50.
11.5%
20%
3.2%
15%
Discount is the loan amount.
True
False
I need help, its due today. I can't get them wrong and thank you will mark brainliest

Respuesta :

taylorperez326
1)80.50
2)11.5
3)false

1- 1845

2- 15%

3- False

Discount  = Face value * discount rate * discount period.

on putting the values, we get

discount = 12300* 12/100 * 15/12

discount = 1845


APR= Interest/Principal X Days in the Year (360)/Days Loan is Outstanding

APR = (1297.50 / 17300)*( 360/180)

APR = 15%

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