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Bill Blank signed an $8550 note at Citizen's Bank. Citizen's charges a 540% discount rate. Assume the loan is for 270 days. a. Find the

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Bill Blank signed an $8550 note at Citizen's Bank. Citizen's charges a 540% discount rate. Assume the loan is for 270 days. a. Find the proceeds. (Use 360 days a year. Do not round intermediate celculations. Round your answer to the nearest cent.) Proceeds nces b. Find the effective rate charged by the bank. (Use 360 deys a year. Do not round intermediete calculations. Round your answer to the nearest tenth percent. Effective rate

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