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Find the proceeds on the third-party discount note

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Reference no: EM131622907

Question: Carter Manufacturing holds a note of $5,000 that has an interest rate of 11% annually. The note was made on March 18 and is due November 13. Carter sells the note to a bank on June 13 at a discount rate of 10% annually. Find the proceeds on the third-party discount note.

Reference no: EM131622907

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