Question: The face value of a simple discount note is $ 1 7 0 0 0 The discount rate is 4 % Term ( days )

The face value of a simple discount note is $17000 The discount rate is 4% Term (days): 160 Ordinary interest 360 Using the information above please answer the following
1. Compute the amount of the discount
2. Amount of proceeds received
3. Amount payee would receive at maturity
4. Effective rate
The face value of a simple discount note is $17000 The

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