Find the Proceeds to the Nearest Cent When the Following

question 100

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $97,600
Discount period: 30 days
Discount rate: 11%

• A)$96,705.33
• B)$86,864.00
• C)$86,964.00
• D)$96,717.59

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Definitions:

Padded Envelopes

Envelopes lined with padding material, used to protect items during shipping.

Complimentary Closing

The polite conclusion or farewell at the end of a letter or email, such as "Sincerely" or "Best regards."

Padded Envelopes

Envelopes lined with bubble wrap or other cushioning material, used for mailing items that require some protection.

Tan Kraft Envelopes

Envelopes made from Kraft paper known for its strength and durability, often used for mailing or storing documents, characterized by their tan or brown color.