Calculate jerry proceeds on the sale

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Reference no: EM132990344

Problem 1: Jerry's Concrete allows his customers to create six-month promissory notes on any stamped concrete driveway project with interest at 8.9%. Three months after completing a $17,300 job on March 2, 2014, Jerry had some liquidity problems and sold the promissory note to a financial institution at an interest rate of 10.35%. Calculate Jerry's proceeds on the sale.

Reference no: EM132990344

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