Complete the following table for the simple discount notes. Use the ordinary interest method. Note: Round your answers to the nearest cent. Amount due at maturity 2,900 Time 6.25% 180 days Discount rate Bank discount Proceeds

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Chapter1: Investments: Background And Issues
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Drill Problem 11-2 (Static) [LU 11-1 (2)]
Complete the following table for the simple discount notes. Use the ordinary interest method.
Note: Round your answers to the nearest cent.
Amount due
at maturity
$
2,900
Discount rate
6.25%
Time
180 days
Bank discount
Proceeds
Transcribed Image Text:Drill Problem 11-2 (Static) [LU 11-1 (2)] Complete the following table for the simple discount notes. Use the ordinary interest method. Note: Round your answers to the nearest cent. Amount due at maturity $ 2,900 Discount rate 6.25% Time 180 days Bank discount Proceeds
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