Question: (1 point) A 260-day note for $4500 bears interest at 12% and is sold 50 days before maturity to a bank that uses a simple

(1 point) A 260-day note for $4500 bears interest at 12% and is sold 50 days before maturity to a bank that uses a simple interest rate of 15%. What are the proceeds? Answer: $ 4786.18

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