Carl Sontag's Interest & Discount Note Comparison

[nat123456]

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.

 

[Greg]

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?

 

[Wilmer]

Google both terms and you should be ok...