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Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 11%. Use the ordinary interest method. (Use Days in
Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 11%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) face value (principal) : $20,600 rate of interest: 100% Length of note: 50 days Maturity value:_____ Date of note: May 3 Date note discounted: June 6 Discount period:______ Bank discount:______ Proceeds:______
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