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Find the amount of interest earned by the first payee

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Reference no: EM132926419

Question - A note dated June 5 is discounted on October 3 at 11%. The face value of the note is $960, the interest rate is 8 & 1/2%, and the maturity date is November 2.

a. Find the maturity value.

b. Find the discount.

c. Find the proceeds.

d. Find the amount of interest earned by the first payee.

Reference no: EM132926419

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