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Determine the proceeds of the note

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Problem - On July 1, Bella Salon Company borrowed cash from Best Bank by issuing a 60-day note with a face amount of $60,000.

a. Determine the proceeds of the note, assuming that the note carries an interest rate of 6%.

b. Determine the proceeds of the note, assuming that the note is discounted at 6%.

Reference no: EM132693139

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