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Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same
Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $18,730 at 10% for 3 years. Use ordinary interest as needed. a. Calculate the simple interest note proceeds. Answer is complete but not entirely correct. Simple interest note proceeds $ 24,349 b. Calculate the simple discount note proceeds. Answer is complete but not entirely correct. Simple discount note proceeds $ 17,044
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