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The Note Was Sold 132 Days Prior to the Maturity

Question 55

Multiple Choice

The note was sold 132 days prior to the maturity date to a bank.The bank pays $14,655.23 for the note.What rate of simple discount,d,did they use to determine this price?


A) 5.91%
B) 6.43%
C) 6.58%
D) 6.74%

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