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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
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.) Note: Do not round intermediate calculations. Round your final answers to the nearest cent. Face value (principal) 50,300 Rate of Interest 10% Length of note 100 days Maturity value Date of note Date note discounted Discount period Bank discount Proceeds July 13 August 3 days
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