Answer- Amount of discount the bank will be proving is = $360
Solution-
We know the formula for simple interest, i = Prt
Where i = interest, P = capital, r = rate of interest, t = time period
Substituting the given values,
(Time is the fraction of a year that is considered to have 360 days)
[tex]i = \frac{(18,0000)(08)(90)}{360} = 360[/tex]
⇒ i = $360
