Tim Fisher received a $1200 discount loan to purchase a computer. The loan was offered at 18% for 180 days. Find the interest in dollars and the proceeds for the following problem.

The discount loan of $1,200 at 18% yearly for 180 days.

Convert 180 days to years. (180 / (365 days/1year)) = 0.49 years.

To calculate the actual amount of the loan after applying the discount.

Actual amount = $1,200 (1-0.18) ^0.49

Actual amount = $ 1088.12