Promissory Notes, Simple Discount Notes, and the Discount Process
1. Kendra signed a promissory note for $5,900 at 12% ordinary interest for 180 days. Find the
interest and amount due she will pay when the note is due.
2. Find the ordinary interest from November 8 to November 22 on $750 at 9% interest.
3. A refrigerator sells for $1,044 on the installment plan. After making a down payment of $100,
you pay $59 a month. How many months will it take to pay for the refrigerator?
