Solve the Problem

question 60

Multiple Choice

Solve the problem. Round rates to the nearest tenth of a percent, dollar amounts to the nearest cent, and time to the nearest day.
-A $8,090 note is signed, for 70 days, at a discount rate of 9.5%. Find the proceeds.

• A)$7,940.56
• B)$7,942.61
• C)$8,090.00
• D)$7,321.45

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Definitions:

Family and Medical Leave Act

U.S. federal law that provides employees with unpaid, job-protected leave for specified family and medical reasons.

Industrialized Nations

Countries that have undergone significant industrialization and now have a predominantly tertiary (service) and quaternary (knowledge-based) economy.

Tuition Reimbursement Program

An employer-provided benefit that pays for or reimburses employees for tuition expenses related to furthering their education.

Knowledge

Facts, information, and skills acquired through experience or education.