The face value of a simple discount note is $17,000. The discount is 4% for 160 days.

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The face value of a simple discount note is $17,000. The discount is 4% for 160 days. Calculate the following. Since you are calculating dollars and cents, be sure to use a dollar sign and round your numbers accordingly for your final answer.

Amount of interest charged for the note
Amount borrower would receive
The effective rate to the nearest tenth percent

Posted Date: Jun 21, 2024 04:09 AM

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The face value of a simple discount note is $17,000. The discount is 4% for 160 days.

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