Calculating dollars and cents, be sure to use a dollar sign

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Reference no: EM133441097

The face value of a simple discount note is $17,000. The discount is 4% for 160 days. Calculate the following. Since you are calculating dollars and cents, be sure to use a dollar sign and round your numbers accordingly for your final answer.

Amount of interest charged for the note
Amount borrower would receive
The effective rate to the nearest tenth percent

Reference no: EM133441097

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