The face value of a simple interest note and blank discount note is $8,000 each. Assume both notes have 8.75 percent interest rates for 60 days. Calculate the following: The amount of interest charged for each?

The face value of a simple interest note and blank discount note is $8,000 each. Assume both notes have 8.75 percent interest rates for 60 days. Calculate the following: The amount of interest charged for each?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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Question

The face value of a simple interest note and blank discount note is $8,000 each. Assume both notes have 8.75 percent interest rates for 60 days. Calculate the following:

The amount of interest charged for each?

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