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On January 26 , Nyree Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $39,600. Assume 360 days

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On January 26 , Nyree Co. borrowed cash from Conrad Bank by issuing a 30-day note with a face amount of $39,600. 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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