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Silver Falls Finances, Inc. made the following loan using a discount rate to compute the charge, and then loaned the proceeds to their clients. Compute
Silver Falls Finances, Inc. made the following loan using a discount rate to compute the charge, and then loaned the proceeds to their clients. Compute the amount of discount, the proceeds, and the actual interest rate based upon the proceeds rather than the face value. Use a day year and compute actual rates to the nearest of a percent.ActualFaceDiscountDiscountInterestValueRateTimeAmountProceedsRate$ days
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