Multiple Choice
The simple interest note was discounted at 15%. Find the discount period in days and the proceeds.
-Loan made: Oct 13
Face value: $21,800
Length of loan: 100 days
Rate: 10%
Date of discount: Jan 4
A) 17 days, $22,246.85
B) 18 days, $21,687.97
C) 18 days, $22,293.53
D) 17 days, $21,641.29
Correct Answer:

Verified
Correct Answer:
Verified
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