Multiple Choice
Find the maturity date and proceeds. Round to the nearest cent.
-Face value: $28,223 Discount rate: 11.5%
Date made: April 29
Time: 90 days
Maturity date: Proceeds:
A) Maturity date: July 29
Proceeds: $27,422.70
B) Maturity date: July 29
Proceeds: $27,411.59
C) Maturity date: July 28
Proceeds: $27,411.59
D) Maturity date: July 28
Proceeds: $27,422.70
Correct Answer:

Verified
Correct Answer:
Verified
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