MHB Carl Sontag's Interest & Discount Note Comparison

AI Thread Summary
Carl Sontag is comparing the proceeds from a simple interest note and a simple discount note, both valued at $19,500 with an 8% interest rate over 2 years. The discussion emphasizes the importance of calculating the proceeds for each type of note using ordinary interest. Participants are encouraged to share their progress or initial calculations to facilitate better assistance. The conversation also suggests researching the definitions of simple interest and simple discount notes for clarity. Understanding these calculations is crucial for determining the financial outcome of each note type.
nat123456
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Carl Sontag 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.

B. Calculate the simple discount note proceeds.
 
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Hello nat123456 and welcome to MHB! :D

We ask that our users show their progress (work thus far or thoughts on how to begin) when posting questions. This way our helpers can see where you are stuck or may be going astray and will be able to post the best help possible without potentially making a suggestion which you have already tried, which would waste your time and that of the helper.

Can you post what you have done so far?
 
Google both terms and you should be ok...
 

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