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Guarantee Lending Co. discounted the following interest-bearing note. Compute the missing information. Use a 360-day year. a. Face Value: $1,800 Date of Note: July 20
Guarantee Lending Co. discounted the following interest-bearing note. Compute the missing information. Use a 360-day year. a. Face Value: $1,800 Date of Note: July 20 Interest Rate: 15% Time to Run: 90 days Discount Date: October 3 Discount Rate: 18% Interest Amount: __________ Maturity Value: __________ Maturity Date: Oct. 18 Days of Discount: __________ Discount Amount: $14.01 Proceeds: __________
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