Aidan received a 70-day promissory note with a simple

Last updated: 8/6/2022

Aidan received a 70-day promissory note with a simple interest rate at 4.0 % per annum and a maturity value of RM17,670. After he kept the note for 40 days, he then sold it to a bank at a discount rate of 3%. Find the amount of proceeds received by Aidan.