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On January 2 6 , Nyree Co . borrowed cash from Conrad Bank by issuing a 6 0 - day note with a face amount

On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $36,000. Assume 360 days in a year.
a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%.
b. Determine the proceeds of the note, assuming the note is discounted at 9%.

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