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Posted on Aug 26, 2024

A note with a maturity value of $ 1 8 , 3 4 0 is due in 9 0 days, and is discounted at a

A note with a maturity value of $

18, 340

is due in

90

days, and is discounted at a rate of

11.3 % .

Find the amount of the proceeds of the loan.

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