Find the discount and proceeds on a $3,250 face-value note for six months if the discount rate is 9.6%. (Use the banker's rule.) The discount is $ (Round to the nearest cent as needed.). The proceeds are $(Round to the nearest cent as needed.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Find the discount and proceeds on a $3,250 face-value note for six months if the discount rate is 9.6%. (Use the banker's rule.)
The discount is $
(Round to the nearest cent as needed.).
The proceeds are $(Round to the nearest cent as needed.)
Transcribed Image Text:Find the discount and proceeds on a $3,250 face-value note for six months if the discount rate is 9.6%. (Use the banker's rule.) The discount is $ (Round to the nearest cent as needed.). The proceeds are $(Round to the nearest cent as needed.)
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