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John signed a 90-day note with a face value of $5,000 and a discount rate of 14.57%. How much did the John receive from the

John signed a 90-day note with a face value of $5,000 and a discount rate of 14.57%. How much did the John receive from the bank? (ordinary time)

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Fundamentals of Corporate Finance

Authors: Berk, DeMarzo, Harford

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