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Determine the proceeds of the loan

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Reference no: EM132788256

Question - Bank of the Philippine Islands has loaned P12,000 to Aina Company using a 60-day non-interest-bearing note. The bank discounted the note at 12%. Determine the proceeds of the loan?

A) P240.

B) P12,000.

C) P11,760.

D) P12,240.

Reference no: EM132788256

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