Pls help me find the banker's discount of this problem?

Ms. Hart borrowed money from a bank. She received from the bank $1342.00 and promised to repay $1,500 at the end of 9 months. Determine the following: a) simple interest rate, b) the corresponding discount rate or often referred to as %26quot;Banker%26#039;s discount

i answered the first part already. this is my answer

a) P = 1342, F= 1500, t = 9/12 = 0.75 , r=?

F=P(1+rt)

1500 = 1342(1+0.75r)

1500=1342+1006.5r

158 / 1006.5 = 1006.5r / 10006.5

r = 15.69796324

r = 15.70%

please help solve the banker%26#039;s discount, i dont know how to solve it, what is the formula,, thanks...

Pls help me find the banker%26#039;s discount of this problem?title loans

You have done the first part correctly.

Banker%26#039;s discount has the formula of simple interest. Banker%26#039;s Discount is not a rate. It is an amount. I think u shold recheck ur question.

There is a lot of difference between Discount Rate and Banker%26#039;s Discount.

TW K