The simple interest note was discounted at 15%. Find the discount period in days and the proceeds.Loan made: Jan 7Face value: $2,600Length of loan: 120 daysRate: 12%Date of discount: Mar 7
A. 61 days, $2,545.92
B. 60 days, $2,649.92
C. 61 days, $2,531.27
D. 61 days, $2,635.27
Answer: D
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C. Expression;
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, and
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