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Find the amount of discount

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Question - The proceeds of a loan of $25,000 with a discount rate of 6% for 2 1/2 year is. Smith purchased a $20000 Treasury Bill at 7.5% discount rate for 5 years .How much Smith paid for the Treasury Bill.

Kathy Jones Signs a simple discount note for $4000 at a discount rate of 6% for 5 months.

(a) Find the amount of discount?

(b) Find the amount kathy receives?

Reference no: EM132938015

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