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A $5,000, 3.5%, 120-day note dated February 8 (not a leap year), is discounted on May 3. Assuming a ...

mlee52381

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A $5,000, 3.5%, 120-day note dated February 8 (not a leap year), is discounted on May 3. Assuming a ...

A $5,000, 3.5%, 120-day note dated February 8 (not a leap year), is discounted on May 3. Assuming a 3% discount rate, the bank discount is:

▸

$10.74

▸

$15.17

▸

$18.33

▸

$16.12

▸

None of these

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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Sirangelou

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More solutions for this book are available here

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mlee52381 Author

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3 months ago

Good timing, thanks!

ouasfoudgewu

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You make an excellent tutor!

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Thanks

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