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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 terms:
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: $20,050 at 8% for 3 years. Use ordinary interest as needed. a. Calculate the simple interest note proceeds. b. Calculate the simple discount note proceeds
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