Find the discount and proceeds on a $66,900.00 face-value note for 100 days if the discount rate is 9.75%.
A) Discount = $1811.88 Proceeds = $65,088.12
B) Discount = $0.00 Proceeds = $66,900.00
C) Discount = $6522.75 Proceeds = $60,377.25
D) Discount = $1787.05 Proceeds = $65,112.95
discount = 66900*9.75% = 6522.75, proceed = 66900-6522.75 = 60377.25
the answer is c
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