Question
Joshua purchased an interest-bearing promissory note for $6,000.00 at 7.00% p.a., due in 90 days. If he sold the note in 36 days by discounting
Joshua purchased an interest-bearing promissory note for $6,000.00 at 7.00% p.a., due in 90 days. If he sold the note in 36 days by discounting it at 8.00% p.a., calculate the proceeds of the note.
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ISE Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley Danielsen
18th International Edition
1265074658, 9781265074654
