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Calculate the proceeds that jab consulting will receive

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Problem - JAB Consulting received a promissory note of $11,500 at 9% simple interest for 15 months from one of its customers. After 6 months, Grove Isle Bank discounted the note at a discount rate of 8%. Calculate the proceeds (in $) that JAB Consulting will receive from the discounted note.

Reference no: EM132853644

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