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6.)A mail-order firm signed a 60-day discount note with a face value (maturity value) of $16,500 and a discount rate of 12.4%.How much will the

6.)A mail-order firm signed a 60-day discount note with a face value (maturity value) of $16,500 and a discount rate of 12.4%.How much will the bank receive as their discount?

9.) Felicity Bank falsely advertises a "special low rate" on a 90 day discount loans.You accept a $20,000 loan and receive $9,500 after their discount.What is the real annual interest rate?

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