Find the proceeds for the simple discount note. face value $15,000, discount rate 6.5%, time 70 days $14,813.01 $186.99 $14,810.42 $189.58

Given:
Face Value $15,000
Discount rate 6.5%
Term 70 days

Discount for a simple discount note:
Discount = Maturity Value * Discount Rate * Term of Note
Discount = 15,000 * 0.065 * 70/360 
Discount =   189.58

Proceeds from Simple Discount note:
Proceeds = Maturity Value - Discount
Proceeds = 15,000 - 189.58
Proceeds = 14,810.42

The proceeds for the simple discount note is $14,810.42. Choice C. 

1. 87
2. 52
3. 256
4. 698