Answered: A man makes a simple discount note with…

A man makes a simple discount note with a face value of $2,400, a term of 160 days, and a 9% discount rate. Find the discount. (Use the banker's rule.)

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Part 1

A man makes a simple discount note with a face value of

$2,400,

a term of

160

days, and

discount rate. Find the discount. (Use the banker's rule.)

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