Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest

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Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary.

Roni Lockard signed a $29,500simple discount promissory note at a certain bank. The discount rate was17%, and the note was made on February19(not in a leap-year) for113days.

What proceeds (in $) will Roni receive on the note?
What is the maturity date of the note?

Posted Date: May 19, 2024 06:13 PM

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Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest

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