To build a new warehouse, Whole Foods International signed a $300,000 simple interest note at 9% for

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To build a new warehouse, Whole Foods International signed a $300,000 simple interest note at 9% for 150 days with National Bank on November 20. On February 6, National Bank sold all of its notes to Bank One.

Find the proceeds to National Bank given a discount rate of 10.5%.

Assume a 360-day year? (Be sure your calculator date worksheet is set to a 360-day year.)

Related Book For answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: Mar 24, 2023 02:16 AM

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To build a new warehouse, Whole Foods International signed a $300,000 simple interest note at 9% for

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First we need to calculate the interest on the note from November 20 to Feb... View the full answer

Intermediate Accounting Reporting and Analysis

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