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Using ordinary interest (360 days), calculate the bank discount, proceeds, and effective rate for the following simple discount notes. Round effective rate to the
Using ordinary interest (360 days), calculate the bank discount, proceeds, and effective rate for the following simple discount notes. Round effective rate to the nearest hundredth of a percent. Face Value 22. $22,500 23. $290,000 Discount Rate(%) 10/1/2 11.9 Term (days) 60 110 Bank Discount Proceeds Effective Rate(%)
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Face Value 22500 Discount Rate 105 Term days 60 days Ban...
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
