Solve the problem. a $8920 note is signed, for 160 days, at a discount rate of 6.5 % find the proceeds.

The answer is $101688

Since there is not enough information about the rate, let's assume that it's a daily rate.

Let's say:

P : Proceeds

o : original amount

d : number of days

r  : percentual rate

So,

Let's make the percentual rate (6,5%) a real number by dividing into 100,

By substituting, we have

$101688

Have a nice day!

$101,688

Step-by-step explanation:

We are given that a $8920 note is signed, for 160 days, at a discount rate of 6.5% and we are to find the proceeds.

For this, we can use the following formula:

where is the discount rate,

is the number of days; and

is the original amount.

Substituting the given values in the formula:

F = $101,688

i think the answer is b