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Amy signs a note agreeing to pay Alex $900.00 with 7% compounded annually in two years. However, four months before the note matures, Brian buys

Amy signs a note agreeing to pay Alex $900.00 with 7% compounded annually in two years. However, four months before the note matures, Brian buys the note from Alex discounting at 15% simple interest.

(a) Find the maturity value of the note.

(b) Compute the proceeds of the sale. Show your detailed work.

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