Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed. a. Calculate the simple interest note proceeds. Can someone help me? Simple interest note proceeds $ b. Calculate the simple discount note proceeds. Simple discount note proceeds $

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Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed.
 


a. Calculate the simple interest note proceeds. 

Can someone help me?
  Simple interest note proceeds $    


b. Calculate the simple discount note proceeds. 


  Simple discount note proceeds $

keith · Answer

900.38

Sheena Lemons · Answer

Find the simple interest owed for the use of the money. Assume 360 days in a year. 
P=$5000.00, R=8.5%, T=9 months

Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $19,500 at 8% for 2 years. Use ordinary interest as needed.

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