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14. Raja Wholesales receives a Php50,000.00 note for goods sold to a retailer. The note matures in three months and bears a 14% simple interest

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14. Raja Wholesales receives a Php50,000.00 note for goods sold to a retailer. The note matures in three months and bears a 14% simple interest rate. One month later the wholesaler find herself short of cash and sells her note to a bank at 15% discount rate. a. What is the maturity value of the note? b. What is the proceeds which Raja received? c. How much gross profit would the bank make if it keeps the note to maturity

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