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On May 11, a company accepted an $8500 note in settlement of a bill. The note was for 220 days at 8.25% simple interest. If

On May 11, a company accepted an $8500 note in settlement of a bill. The note was for 220 days at 8.25% simple interest. If the company sells the note to a loan company at an 11.5% discount 90 days after receipt, find the bank discount and the proceeds

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