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Can anyone help me with this question? I know the answer, but want to see how the answer was calculated. On March 10, 2013, the
Can anyone help me with this question? I know the answer, but want to see how the answer was calculated. On March 10, 2013, the Westwood Company accepted a 60-day, 9 percent note from Pete Houghton in settlement of his past-due account for $6,000. On April 9, Westwood Company discounted the note at the First National Bank. The bank charged a discount rate of 12 percent. What is the maturity value of the note?
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