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Eugene signed a $10,000, note at Castle Bank. The bank charges a 7% discount rate. Suppose the loan is for 150 days. Use ordinary interest

Eugene signed a $10,000, note at Castle Bank. The bank charges a 7% discount rate. Suppose the loan is for 150 days. Use ordinary interest to find, The proceeds, The effective rate charged by the bank, rounded to the nearest tenth percent.

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