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a $ 6500 note paying 4% interest rate was issued on may 22 and will mature on december 1.instead of holding the note until maturity

a $ 6500 note paying 4% interest rate was issued on may 22 and will mature on december 1.instead of holding the note until maturity the note is sold on august 22 to determine the price it is sold at a discount rate of 9% is used.

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