On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a

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Question:

On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of $150,000.

a. Determine the proceeds of the note, assuming the note carries an interest rate of 10%.

b. Determine the proceeds of the note, assuming the note is discounted at 10%.

Posted Date: Jun 14, 2024 12:40 AM

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