1) JAB Consulting received a promissory note of $11,500 at 9% simple interest for 15 months from one of its customers

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1) JAB Consulting received a promissory note of $11,500 at 9% simple interest for 15 months from one of its customers. After 6 months, Grove Isle Bank discounted the note at a discount rate of 8% Calculate the proceeds (in $) that JAB Consulting will receive from the discounted note. (Round your answer to the nearest cent.)?

2. Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Roni Lockard signed a $29,500 simple discount promissory note at a certain bank. The discount rate was 14%, and the note was made on February 13 (not in a leap-year) for 112 days. What proceeds (in $) will Roni receive on the note?

3. You sign a simple discount promissory note for $7,000 at a discount rate of 7%, for 24 months. What are the proceeds (in $)?

4. If you purchase $22,000 in U.S. Treasury Bills with a discount rate of 4.1% for a period of 26 weeks, what is the effective interest rate (as a %)? Round to the nearest hundredth percent.