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qid 419 · business

Question: A noninterest-bearing note with a face value of $600 and a term of 30 days dated April 5 was discounted April 15 at a rate of 5%. What were the proceeds?

  1. $597.50
  2. $599.33
  3. $596.67
  4. $595
  5. $604.17
  6. $601.67
  7. $598.33
  8. $600
  9. $603.33
  10. $602.50

Our answer: G. $598.33 Source quote machine-checked (exact quote)

A machine check confirms the quoted words appear at the source. A person has not yet reviewed these. EARN MARKS as a Human Reviewer

How it was answered

Stored method, replayed by code (kind: formula)

card: formula · card sha256 be6b4734d013eca9…

Current source

AJ Design, "Bank Discount Calculator"

https://www.ajdesigner.com/bank-discounts/

“Bank discount equals maturity value times discount rate times time”

Source quote machine-checked (exact quote)

retrieved 2026-09-18T01:08:18.672Z

page text sha256 ebe38ff2af586928… · content sha256 0925e6781d34bb60…

addendum formula_qid419.formula_ADDENDUM_source_rs20260918T010818Z · sha256 da6e854dd2881cb6… · replaces the version below, addendum sha256 6b5bbbd1fad1674a…

Earlier version (superseded)

No public source has been found for this card yet (2 places checked internally).

addendum formula_qid419.formula_ADDENDUM_source · sha256 6b5bbbd1fad1674a…

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