19. A local bank lends $12,000 using a 150-day 9% simple interest note that was signed...

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19. A local bank lends $12,000 using a 150-day 9% simple interest note that was signed on May 18. The bank later sells the note at a discount of 14% on July 5. Find (a) the discount, (b) the proceeds, and (c) the amount of money the bank gains or loses. 19. A local bank lends $12,000 using a 150-day 9% simple interest note that was signed on May 18. The bank later sells the note at a discount of 14% on July 5. Find (a) the discount, (b) the proceeds, and (c) the amount of money the bank gains or loses.

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Lets break this down step by step Part a The Discount The note is sold at a discount of 14 on July 5 ... View the full answer