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Find the bank discount and proceeds using ordinary interest for a loan to Michelle Anders for $7,200 at 8.25% annual simple interest from August 8 to November 8. Loan date 8/8/2017 Loan Due Date 11/8/2017 Exact time 92 days =B5-B4 Face Value (F) $7,200 Discount Rate (D) 8.25% years --> 'Convert Exact time in days to Time Period (T) years Bank Discount (B) =PRODUCT(B8:B10) OR =B8*B9*B10 Proceeds (P) =B8-B11