You borrow $P on May 15, 2020. You write a promissory note to...
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You borrow $P on May 15, 2020. You write a promissory note to repay the loan in 9 months at a simple interest rate ofr= 7%. The note was sold 132 days prior to the maturity date to a bank. The bank pays $14,655.23 for the note. What rate of simple discount rate, d, did they use to determine this price? O A. 6.74% B. 5.91% C. 6.58% D. 6.43% Reset Selection You borrow $P on May 15, 2020. You write a promissory note to repay the loan in 9 months at a simple interest rate ofr= 7%. The note was sold 132 days prior to the maturity date to a bank. The bank pays $14,655.23 for the note. What rate of simple discount rate, d, did they use to determine this price? O A. 6.74% B. 5.91% C. 6.58% D. 6.43% Reset Selection
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