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  • 25-10-2021
  • Business
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First Bank loaned $360,000 for 180 days to a company purchasing a rock-crushing machine. The bank sold the 7% simple interest note 120 days later at an 8% discount rate. Find the proceeds. Assume a 360-day year for both notes.

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kaylaglez
kaylaglez kaylaglez
  • 25-10-2021
$367,632 is the answer
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