Word Problem 11-13 (Algo) [LU 11-2 (1)]
There are some excellent free personal finance apps available: Mint.com, GoodBudget, Mvelopes, BillGuard, PocketExpense,
HomeBudget, and Expensify. After using Mint.com, you realize you need to pay off one of your high interest loans to reduce your
interest expense. You decide to discount a $5,900, 345-day note at 2% to your bank at a discount rate of 3.5% on day 220. What are
your proceeds?
Note: Round your final answer to the nearest whole number.