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September 3, 2015

Homework Help: College Math

Posted by Lisa on Thursday, November 8, 2012 at 1:35pm.

i'm having trouble calculating this. can someone help please?

A $7,000, 4%, 120-day note, dated March 20, is discounted on July 15. Assuming a 3% discount rate, the bank discount is:
a) $1.74
b) $1.77
c) $7.11
d) $17.68
e) None of these

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