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ill Blank signed an $7,540 note at Citizens Bank. Citizens charges a 8.20% discount rate. Assume the loan is for 270 days. a. Find the
ill Blank signed an $7,540 note at Citizens Bank. Citizens charges a 8.20% discount rate. Assume the loan is for 270 days.
a. Find the proceeds. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)
b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.)
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