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# Mel Sturbridge needs $24,700 to remodel his home. Find the face value of a simple discount note that will provide the $24,700 in proceeds if he plans to repay the note in 180 days and the bank charges

Mel Sturbridge needs $24,700 to remodel his home.

Find the face value of a simple discount note that will provide the $24,700 in proceeds if he plans to repay the note in 180 days and the bank charges an 8% discount rate.

Round to the nearest cent.