A 6-month note dated June 30 for $2,900 bears interest at 8.5%. Determine the proceeds of the note if it is discounted at 4.75% on September 1.

Name: A 6-month note dated June 30 for $2,900 bears interest at 8.5%. Determine the proceeds of the note if it is discounted at 4.75% on September 1.
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The Answer of A 6-month note dated June 30 for $2,900 bears interest at 8.5%. Determine the proceeds of the note if it is discounted at 4.75% on September 1.

A 6-Month Note Dated June 30 for $2,900 Bears Interest