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What is a promissory note, and what are some terms that are normally included in promissory notes? What is a line of credit and a

  1. What is a promissory note, and what are some terms that are normally included in promissory notes?
  2. What is a line of credit and a revolving credit agreement?
  3. If interest must be paid monthly, what would be the effective annual rate?
  4. What are some types of current assets that are pledged as security for short-term loans?

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