The Simple Interest Note Was Discounted at 15

question 41

Multiple Choice

The simple interest note was discounted at 15%. Find the discount period in days and the proceeds.
-Loan made: Oct 13
Face value: $52,000
Length of loan: 100 days
Rate: 11%
Date of discount: Jan 4

• A)17 days, $51,620.41
• B)18 days, $53,294.15
• C)18 days, $51,705.26
• D)17 days, $53,209.30

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