document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=173964>Question 173964</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An investment company owns a 10-year, 6% simple interest note that has a face value of $50,000. A bank agrees to purchase the note 3 years before it is due by discounting it at 9%. Find the maturity value of the note, the discount, and the proceeds.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #129367 by </B><A HREF=/tutors/aboutme.mpl?userid=Mathtut><B>Mathtut(3670)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Mathtut><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=129367\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I=50000(.06)(10)=30000<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Maturity Value=80000<BR>\n" );
document.write( ":<BR>\n" );
document.write( "discount equals 80000(.09)(3)=21600<BR>\n" );
document.write( ":<BR>\n" );
document.write( "proceeds are 80000-21600=58400 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );