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Solve the Problem. -A Holder of a $3,000, 10%, 120-Day Note Dated June

Question 104

Multiple Choice

Solve the problem.
-A holder of a $3,000, 10%, 120-day note dated June 2 decides to sell the note at a discount. The note is sold on July 23 at a discount of 12%. Find the proceeds.


A) $3,028.70
B) $2,987.18
C) $3,040.58
D) $3,027.67

Correct Answer:

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