Solved

Find the Proceeds to the Nearest Cent When the Following

Question 48

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $11,000 Discount period: 90 days
Discount rate: 10.6%

A) $9,934.00
B) $9,834.00
C) $10,712.49
D) $10,708.50

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