Find the Maturity Date and Proceeds

question 84

Multiple Choice

Find the maturity date and proceeds. Round to the nearest cent.
-Face value: $28,223 Discount rate: 11.5%
Date made: April 29
Time: 90 days
Maturity date: Proceeds:

• A)Maturity date: July 29 Proceeds: $27,422.70
• B)Maturity date: July 29 Proceeds: $27,411.59
• C)Maturity date: July 28 Proceeds: $27,411.59
• D)Maturity date: July 28 Proceeds: $27,422.70

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