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Johnny purchased an interest-bearing promissory note for $4,000.00 at 7.00% p.a., due in 30 days. If he sold the note in 12 days by discounting
Johnny purchased an interest-bearing promissory note for $4,000.00 at 7.00% p.a., due in 30 days. If he sold the note in 12 days by discounting it at 8.00% p.a., calculate the proceeds of the note.
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