The proceeds of a $9,500.00, 10 percent simple discounted note for 95 days is?

value = $ 9500

Discount = 10 %

n = 95 days

SOLVING:

9500 × 10% = 950

950 ÷ (365 × 100) = 260.27

9500 - 260.27 = 9239.7 (answer)

Explanation:

Simple discounting is the procedure of finding the present value of a given amount which in this case is $9500 that is required on a future date and includes a simple interest is called discounting at simple interest.

Consequently, to discount a sum by the simple interest procedure is to find its present value.

answer; limited pay life;

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