(a) If you were lent 8,000 for 70 days at 5%, how much interest would you pay?...

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(a) If you were lent £8,000 for 70 days at 5%, how much interest would you pay?

(b) If a debt factor offered to discount an £11,000 bill of exchange at 7%, and if the bill had an outstanding period of 60 days, how much would the debt factor pay for the bill?

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Frank Woods Business Accounting Volume 2

ISBN: 9780273767923

12th Edition

Authors: Frank Wood, Ph.D. Sangster, Alan

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