Question: b A borrower has two alternatives for a loan: (1) issue a $150,000, 45-day, 4% note or (2) issue a $150,000, 45-day note that the

A borrower has two alternatives for a loan: (1) issue a $150,000, 45-day, 4% note or (2) issue a $150,000, 45-day note that the creditor discounts at 4%. a. Compute the amount of the interest expense for each option. b. Determine the proceeds received by the borrower in each situation

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