Solved

Find the Proceeds to the Nearest Cent When the Following

Question 58

Multiple Choice

Find the proceeds to the nearest cent when the following is discounted.
-Maturity value: $8,000
Discount period: 90 days
Discount rate: 8.5%

A) $7,320.00
B) $7,420.00
C) $7,830.00
D) $7,832.33

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