Peter buys an item from sue and signs a note to pay 300 in


Peter buys an item from Sue and signs a note to pay $300 in 10months. Then, 1 month(s) before the note comes due, Sue sells thenote to a bank which discounts the note based on 12.5% simpleinterest. How much did the bank pay Sue for the note?

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Finance Basics: Peter buys an item from sue and signs a note to pay 300 in
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