Jack steele needs $14,500 to computerize his inventory. find the face value of a simple discount note that will provide the $14,500 in proceeds if he plans to repay the note in 150 days and the bank charges an 11% discount rate. round to the nearest cent. $15,196.51 $15,164.58 $15,186.51 $15,155.48

Given:
Proceeds = $14,500
discount rate = 11%
term = 150 days

Simple discount note:
Discount = Maturity Value * discount rate * term

Proceeds from simple discount note:
proceeds = Maturity Value - discount

We will have to work back:

Discount = Maturity Value * 0.11 * 150/360
Discount = Maturity Value * 0.045833

Discount is 0.045833 of the Maturity Value. The proceeds is net of the Discount so we simple deduct 0.045833 from 1 to get the portion of the proceeds as compared to the Maturity Value. 

14,500 / (1-0.045833) = 14,500 / 0.95416 = 15,196.61

My figure is nearest to choice A. $15,196.51

38+105= 143, 39+104=143, and you will find then adding the numbers on opposite sides, moving inwards yields the answer 138 every time. because of this, you’re going to multiply 138 times the number of pairs, which is 34. therefore, 34*138= 4692(i’m sorry if it’s the wrong numbers, but it’s the right concept)