Future Business Leaders of America (FBLA) Business Calculations Practice Test 2025 - Free FBLA Practice Questions and Study Guide

To find the proceeds from a note based on the discount rate, it is essential to calculate the amount of discount applied to the note based on the face value, discount rate, and the time period involved.

First, we can calculate the discount amount. The formula for calculating the discount is:

\[ \text{Discount} = \text{Face Value} \times \text{Discount Rate} \times \left(\frac{\text{Time}}{360}\right) \]

Using the given values:

- Face Value = $6000

- Discount Rate = 12% (or 0.12 as a decimal)

- Time = 270 days

Substituting these values into the formula gives:

\[

\text{Discount} = 6000 \times 0.12 \times \left(\frac{270}{360}\right)

\]

Calculating the fraction of the year:

\[

\frac{270}{360} = 0.75

\]

Now plug this back into the discount calculation:

\[

\text{Discount} = 6000 \times 0.12 \times 0.75

\]

Calculating this step-by-step:

1. \( 6000