Solve the problem. Round rates to the nearest tenth of a percent, dollar amounts to the nearest cent, and time to the nearest day.
-A note with a face value of $3,300 was discounted at 7%. If the discount was $58, find the length of the loan in days.
A)90 days
B)60 days
C)92 days
D)120 days

Question

Quizplus · Accepted Answer

The discount is $58, which is 1.76% of the face value. So, the loan was discounted at 1.76% for 90 days.

Solve the Problem