Question: A long term promissory notes for $20 000 is signed on April 15, 2021. It is due on October 15, 2024 at j2 =

A long term promissory notes for $20 000 is signed on April

A long term promissory notes for $20 000 is signed on April 15, 2021. It is due on October 15, 2024 at j2 = 6%. The maturity value of the note is $24 597.48. The note is sold on April 15, 2022 to a bank that discounts the note at j4 = 8%. What are the proceeds?

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