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On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $73,200. Assume a 360-day year.
On January 26, Vibrant Co. borrowed cash from Conrad Bank by issuing a 60-day note with a face amount of $73,200. Assume a 360-day 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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Financial Services And Markets
Authors: Dr. Punithavathy Pandian
8125931201, 978-8125931201
