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Find the initial proceeds of the simple discount note

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Reference no: EM132535058

Question 1: Find the initial proceeds of the simple discount note. Then, find the discount period, the discount, and proceeds after discounting.

Date Loan Was Made: Jan. 22

Maturity Value: $40,000

Length of Loan: 60 days

Rate: 10%

Date of Discount: Mar. 9

Discount %: 10%

Reference no: EM132535058

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