Mathematics, 31.07.2021 17:50 amulets8409
On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $93,600. Assume a 360-day year.
a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.
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b. Determine the proceeds of the note, assuming the note is discounted at 10%.
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On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amoun...
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