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Compute Bank Discount Using (A) Ordinary Interest, (B) Proceeds, and (C)

Question 37

Essay

Compute bank discount using (A) ordinary interest, (B) proceeds, and (C) effective interest rate to the nearest hundredth. Do not round denominator in your calculation.
Compute bank discount using (A) ordinary interest, (B) proceeds, and (C) effective interest rate to the nearest hundredth. Do not round denominator in your calculation. A. $385; B. $8,615; C. 14.63%
A. $385;
B. $8,615;
C. 14.63%

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