Question: On January 26 Nyree Co borrowed cash from Conrad Bank

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%.


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  • CreatedFebruary 28, 2014
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