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Find (a) the discount and (b) the proceeds for the following simple discount notes. Face Value Discount Rate Time (Days) $15,600 7.25% 270 Blank #

Find (a) the discount and (b) the proceeds for the following simple discount notes. Face Value Discount Rate Time (Days) $15,600 7.25% 270 Blank # 1 Blank # 2 Question 14 (6 points) Marty McFly signed a simple discount note for $3400 for 120 days at a rate of 12%. Find (a) the proceeds and (b) the effective interest rate based on the proceeds received by McFly. Blank # 1 Blank # 2

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