On November 2, Paul Matthews signed a 120 day, $75,000 simple discount promissory note at the Northridge Savings Bank. The discount rate was $13 \frac { 1 } { 4 } \%$ ordinary interest. What proceeds will Paul receive on the note?

Question

On November 2, Paul Matthews signed a 120 day, $75,000 simple discount promissory note at the Northridge Savings Bank. The discount rate was

13 \frac { 1 } { 4 } \%

ordinary interest. What proceeds will Paul receive on the note?

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The Answer of On November 2, Paul Matthews signed a 120 day, $75,000 simple discount promissory note at the Northridge Savings Bank. The discount rate was $13 \frac { 1 } { 4 } \%$ ordinary interest. What proceeds will Paul receive on the note?

On November 2, Paul Matthews Signed a 120 Day, $75,000 1314%13 \frac { 1 } { 4 } \%1341​%

On November 2, Paul Matthews Signed a 120 Day, $75,000 $13 \frac { 1 } { 4 } \%$