Solved

Find the Proceeds to the Nearest Cent When the Following

Question 100

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $97,600
Discount period: 30 days
Discount rate: 11%

A) $96,705.33
B) $86,864.00
C) $86,964.00
D) $96,717.59

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