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On 10 august, Joffrey borrows $4000 from Jon and givens Jon a promissory note at a simple interest of 10 percent per annum with

On 10 august, Joffrey borrows $4000 from Jon and givens Jon a promissory note at a simple interest of 10 percent per annum with a maturity date of 4 February the following year. Ramsey buys the note from Jon on November 3, based on a simple discount of 11 percent. Determine Ramsey's purchase price and interest rate return?

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