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How much cash will dower receive from the bank on march

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Question - On March 31, Dower Publishing discounted a $36,000 note at a local bank. The note was dated February 28 and required the payment of the principal amount and interest at 10% on May 31. The bank's discount rate is 12%.

How much cash will Dower receive from the bank on March 31?

What is the maturity date, discount, and cash proceeds?

Reference no: EM132047529

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