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Business, 21.01.2020 17:31 briizy

After being held for 40 days, a 120-day 12% interest bearing note receivable was discounted at a bank at 15%. what is the formula for the proceeds received from the bank? a. maturity value less the discount at 12%b. maturity value less the discount at 15%c. face value less the discount at 12%d. face value less the discount at 15%

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After being held for 40 days, a 120-day 12% interest bearing note receivable was discounted at a ban...
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