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Find the amount of proceeds received by luqman

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Question - Lugman received a 70-day promissory note with a simple interest rate at 3.8% per annum and a maturity value of RM17,670. After he kept the note for 50 days, he then sold it to a bank at a discount rate of 3%. Find the amount of proceeds received by Luqman.

Reference no: EM133186286

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