Business, 30.06.2021 22:10 christinawood
On March 31, Dower Publishing discounted a $31,000 note at a local bank. The note was dated February 28 and required the payment of the principal amount and interest at 8% on May 31. The bank’s discount rate is 10%.
How much cash will Dower receive from the bank on March 31?
Maturity value:
Discount:
Cash Proceeds:
Answers: 1
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On March 31, Dower Publishing discounted a $31,000 note at a local bank. The note was dated February...
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