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What is the bank profit on investment

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An investors lends $5000 and receives a promissory note promising repayment of the loan in 90 days with 8.5% simple interest. This note is immediately sold to a bank that charges 8% simple interest. How much does bank pay for the note? What is investors profit? What is the bank profit on this investment when the note matures?

Reference no: EM132779689

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