Question: Brandi Lee signed a $ 3 0 , 0 0 0 simple discount promissory note at the Signature Bank. The discount rate was 1 3

Brandi Lee signed a $30,000 simple discount promissory note at the Signature Bank. The discount rate was 13% ordinary interest, and the note was made on August 9 for 95 days.
a. What proceeds did Brandi receive on the note?
Face Value =
Rate =
Time (days)=
Bank discount =
Proceeds =
b. What was the maturity date of the loan?
Date loan was made =
Maturity date =
c. What was the effective interest rate of the note? Round the answer to the nearest
hundredth of a percent.
Effective Rate =

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