Based on the number of periods for the simple discount note to reach maturity and the discount rate, the proceeds are $7,598.74.
You can solve for the discounted price as:
= Maturity value x discount rate x number of periods
Solving gives:
= 7,700 x (6% / 365) x 80
= $101.26
The proceeds can then be found by subtracting the discounted price from the maturity price.
Solving for the proceeds gives:
= 7,700 - 101.26
= $7,598.74
Based on the simple discount note period, the maturity value, and the discount rate, the proceeds can be found to be $7,598.74.
In conclusion, the proceeds are $7,598.74.
Find out more on simple discount notes at https://brainly.com/question/13161668
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