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October 1, 2014

Homework Help: math/Finance

Posted by Janine on Friday, September 7, 2012 at 5:42pm.

Sheila Spinney borrowed $32,500 at 7.5% simple interest for 180 days on January 7. The bank later sold the note at an 8% discount on March 2. Find the proceeds to the bank. I do not know what formula to use.

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