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A 180 day Note with a maturity payment of $73,000 is sold after 33 days to ZNZ

Bank, which uses a 9.08% per annum simple interest rate. Calculate the price that ZNZ Bank paid for the Note. Give your answer in dollars and cents to the nearest cent.


A 180 day P-Note with 121 days remaining has a maturity value of $95,000. This P-Note is sold to ZNZ Bank for $93,100. Calculate the rate of simple interest (r) that ZNZ Bank is using. Give your answer as a percentage per year to 2 decimal places.

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