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Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. Do not round
Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 9%. Use the ordinary interest method. Do not round intermediate calculations. Round your final answers to the nearest cent.
Face Value (Principle) | Rate of Interest | Length of note | Maturity Value | Date of note | Date note discounted | Discount period | Bank discount | Proceeds |
$50,000 | 11% | 95 days | June 10 | July 18 |
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