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2 ) An investor has a promissory note for $ 9 , 0 0 0 that matures 3 0 0 days from purchase at 4

2) An investor has a promissory note for $9,000 that matures 300 days from purchase at 4.5%
simple interest. After 138 days, they sell it to a bank which discounts promissory notes at 3.5%
interest. 5 points
a) How much does the bank pay for the prom note?
b) What rate of return does the investor achieve?

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