Solve the problem.A holder of a $34,800, 9%, 120-day note dated June 3 decides to sell the note at a discount based on ordinary interest. The note is sold on July 15 at a discount of 12% using the banker's rule. Find the proceeds.

A. $34,912.06
B. $34,900.11
C. $35,145.04
D. $34,556.16


Answer: A

Mathematics

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