Rural Global Co. makes many loans to individuals by discounting the face value of the loan. The borrower gets the proceeds. For the loan below, determine the amount of the discount, the procceds, and...

Extracted text: Rural Global Co. makes many loans to individuals by discounting the face value of the loan. The borrower gets the proceeds. For the loan below, determine the amount of the discount, the procceds, and the actual interest rate which is based on the procceds rather than the face value. Use a 365-day year and compute actual rates to the nearest 1/100 of a percent. Actual Face Discount Discount Interest Value Rate Time Amount Proceeds Rate $5,300 9% 200 days