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linda_us, Master's Degree
Category: Single Problem
Satisfied Customers: 7291
Experience:  A tutor for Business, Finance, Accounts and other related topics.
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I need help with a math problem, can you help me solve this

Customer Question

i need help with a math problem
JA: Thanks. Can you give me any more details about your issue?
Customer: can you help me solve this problem. murray discounts a 120-day note for $20,000 at 11 percent. Assuming ordinary interest, what would the proceeds be?
JA: OK got it. Last thing — Tutors generally expect a deposit of about $18 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Single Problem
Expert:  softwarepapa replied 1 year ago.


I come up with $19,266.67

Do you need to see my steps?

Customer: replied 1 year ago.
Can you show me the steps
Expert:  linda_us replied 1 year ago.


This is Linda and here are the detailed step.

Discount Amount = 20000 x 11% x (120/360) = 733.33

So Proceed = 20000-733.33 = 19266.67

If you need any further information please let me know. You can request me in future by writing "FOR LINDA" in your post.