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Compute (A) bank discount, (B) proceeds for the following simple discount (use ordinary interest), and (C) the effective interest rate to nearest hundredth percent. Face

Compute (A) bank discount, (B) proceeds for the following simple discount (use ordinary interest), and (C) the effective interest rate to nearest hundredth percent. Face Value = $5,800, Discount Rate = 11%, Time = 200 days

Bank discount
Proceeds
Effective rate

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