Question: On January 2 6 , Nova Co . borrowed cash from Conrad Bank by issuing a 9 0 - day note with a face amount

On January 26, Nova Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $76,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 5% : $______
b. Determine the proceeds of the note, assuming the note is discounted at 5%: _______

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