Im trying to find the equasion for these. Answers will help me with homework but nto test. Please explain a little. (see im not a cheater, which is rare I know.) thanks in advance.
1) Ron Prentice bought goods from Shelly Katz. On May 8th Shelly gave Ron a time extension on his bill by accepting a 3,000, 8%, 180 day note. On August 16, Shelly dicounted the note at the bank at 9%. what proceeds does shelly katz receive?
2) On May 12, Scott Rinse accepted 8,000, 12%, 90 day note for a time extension of a bill for goods bought by Ron Prentice. On June 12 Scott discounted the note at Able bank at 10%What proceeds does scott receive?
2007-06-16
10:01:56
·
1 answers
·
asked by
mistista07
6
in
Mathematics