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On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer

On April 15, 2019, Powell Inc. obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $459,000. The interest rate charged by the bank was 5.00%. The bank made the loan on a discount basis.

Calculate the loan proceeds made available to Powell.image text in transcribed

Chapter 7 homework i 1 ! Required information [The following information applies to the questions displayed below! Part 1 of 4 On April 15. 2019. Powell Inc obtained a six-month working capital loan from its bank. The face amount of the note signed by the treasurer was $459.000. The interest rate charged by the bank was 5.00%. The bank made the loan on a discount 0.5 points basis Required: 0-1. Calculate the loan proceeds made available to Powell ebook Loan proceeds Hint Print References

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