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

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

The Simple Interest Note Was Discounted at 15