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3.98 A merchant buys goods worth $2000 and signs a 90-day noninterest-bearing promissory note. Find the proceeds if the supplier sells the note to a

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3.98 A merchant buys goods worth $2000 and signs a 90-day noninterest-bearing promissory note. Find the proceeds if the supplier sells the note to a bank that uses a 13% simple interest rate. How much profit did the supplier make if the goods cost $1500? Ans. $437.05

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