Question: A note receivable for $ 9 , 0 0 0 that will pay interest o f $ 4 0 0 when i t matures i

A note receivable for $9,000 that will pay interest of $400 when it matures in60 days is discounted at the bank 30 days before it matures, how much will the bank charge the company to discount the note if the discount rate is12%

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