Assignment

CengageNOWv$2|$ Online teachin $x$

ngagenow.com$/$ilrn$/$takeAssignment$/$takeAssignmentMain$.$do$?$invoker$=$&takeAssignmentSessionLocator$=$assignment$-$take&in$...$

eBook

Show Me How

Print Item

Proceeds from notes payable

On January $26,$ Nyree Co$.$ borrowed cash from Conrad Bank by issuing a $60-$day note with a face amount of $$81,600.$ Assume $360$ days in a year.

a$.$ Determine the proceeds of the note, assuming the note carries an interest rate of $10\%.$

$

b$.$ Determine the proceeds of the note, assuming the note is discounted at $10\%.$