A holder of a $9000, 7%, 210-day note dated June 8 decides to sell the note at

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A holder of a $9000, 7%, 210-day note dated June 8 decides to sell the note at a discount based on ordinary interest. The note is sold on July 18 at a discount of 12% using the banker's rule. Find the proceeds.

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Apr 09, 2024 04:44 PM

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A holder of a $9000, 7%, 210-day note dated June 8 decides to sell the note at

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To find the proceeds from selling the note we need to determine the discount and sub... View the full answer

Income Tax Fundamentals 2013

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