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Determine the proceeds of the note

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On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $150,000. Assume a 360-day year.

Question a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.

Question b. Determine the proceeds of the note, assuming the note is discounted at 10%.

Reference no: EM132483904

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