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Posted on Jun 09, 2024

Jason Melvin signed a simple discount note with a face value of $ 4 , 8 0 0 at a discount rate of 8 %

Jason Melvin signed a simple discount note with a face value of $

4, 800

at a discount rate of

8 %

for

7

months. Find the proceeds of the note and the effective interest rate.

Find the proceeds of the note.

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