Question
On June 1, 2017, a four-month promissory note for $1850 with interest at 5% was issued. Compute the proceeds of the note on August 28,
On June 1, 2017, a four-month promissory note for $1850 with interest at 5% was issued. Compute the proceeds of the note on August 28, 2017, if money is worth 6.5%. Ignore any grace period.
The proceeds are $_____
(Round to the nearest cent as needed.)
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
