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Determine the proceeds of the note for mcmaster co

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On January 26, McMaster Co. borrowed cash from Quantum Bank by issuing a 45-day note with a face amount of $324,000.

Problem 1. Determine the proceeds of the note, assuming that the note carries an interest rate of 10%.

Problem 2. Determine the proceeds of the note, assuming that the note is discounted at 10%.

Reference no: EM132776641

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