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17) A note for $2,800 has a term of 9 months and an interest rate of 11% a. If the money market rate is 11%,

17) A note for $2,800 has a term of 9 months and an interest rate of 11%

a. If the money market rate is 11%, what is the percent value on the date it is drawn (signed) ?

b. If the money market rate is 12%, what is its present value at the beginning of the term?

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