The Simple Interest Note Was Discounted at 15

question 13

Multiple Choice

The simple interest note was discounted at 15%. Find the discount period in days and the proceeds.
-Loan made: Apr 18
Face value: $400
Length of loan: 150 days
Rate: 11%
Date of discount: June 18

• A)90 days, $406.83
• B)89 days, $384.49
• C)89 days, $402.82
• D)90 days, $388.50

Comprehend the perspectives on organizations as systems and the importance of adaptability and learning.

Recognize the importance of rigor and science in management practices over quick-fix solutions and best-seller management trends.

Understand the core values and key success factors of companies like the Zildjian Company.

Comprehend Henry Fayol's principles of management and their application in contemporary business settings.

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Definitions:

Unbiased Estimator

An unbiased estimator is a statistical term for an estimate that is expected to be equal to the true parameter of the population.

Population Parameter

A numerical value that summarizes or describes an aspect of a population, such as its mean or standard deviation.

Expected Value

The weighted average of all possible values of a random variable, reflecting the central tendency of the variable's probability distribution.

Population Standard Deviation

Population Standard Deviation measures the dispersion or variability within a set of values for an entire population, indicating how much the individual data points differ from the mean.