Question: Simple Discount Formula: B = MDT Date worksheet; set to 3 6 0 - day year Maturity Value = Proceeds ? ( ) 1 -

Simple Discount Formula: B= MDT
Date worksheet; set to 360-day year
Maturity Value = Proceeds ?()
1-DT
On April 10, Karim Darmati accepted a note for $10,000 with 9% simple interest, due on December 6. Assume a 360-day year. Karim needed cash and took the note to First City Bank, which agreed to buy the note at a discount of 12.5%. The transaction was made on July 7. How much did Karim receive for the note?
Simple Discount Formula: B= MDT Date worksheet; set to 360-day year

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