What are the proceeds of a note for $10,500 at a discount rate of 10%, for 12 months?

Interest = F×d×t

where F= Final amount

          d= discount rate

            t= time(in years)

given- F=10500, d=10%= 0.1, t=12/12 =1 yr

        i = 10500 × 0.1 × 1

          = 1050

Proceeds(pr) = F - i

where F = Final amount

          i  = interest

pr = 10500 - 1050 = 9450 → final answer