Using ordinary interest, 360 days, calculate the bank discount (in $), proceeds (in $), and effective rate (as a %) for the simple discount note. Round dollars to the nearest cent and round effective rate to the nearest hundredth of a percent. Face Value Discount Rate (%) Term (days) Bank Discount Proceeds Effective Rate (%) $6,805 10.19 71 $  $   %

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Using ordinary interest, 360 days, calculate the bank discount (in $), proceeds (in $), and effective rate (as a %) for the simple discount note. Round dollars to the nearest cent and round effective rate to the nearest hundredth of a percent.
Face
Value
Discount
Rate (%)
Term
(days)
Bank
Discount
Proceeds Effective
Rate (%)
$6,805 10.19 71  %
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