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5. Roth Company received from a customer a one-year, P500,000 note bearing annual interest rate of 8%. After holding the note for six months, Roth

5. Roth Company received from a customer a one-year, P500,000 note bearing annual interest rate of 8%. After holding the note for six months, Roth discounted the note at Regional Bank at an effective interest rate of 10%, What amount of cash did Roth receive from the bank?*

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