Solution-Determine the proceeds of the note

Determine the proceeds of the note

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Reference no: EM133124506

Question - On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $43,200. Assume a 360-day year.

Required -

a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%.

b. Determine the proceeds of the note, assuming the note is discounted at 9%.

Reference no: EM133124506

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Determine the proceeds of the note

Reference no: EM133124506

Reference no: EM133124506

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