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On May 15 Maynard Co borrowed cash from Texas Bank by issuing a 60-day note with a face amount of $100,000. a. Determine the proceeds of the note assuming that the note carries an interest rate of

On May 15, Maynard Co. borrowed cash from Texas Bank by issuing a 60-day note with a face amount of $100,000. a. Determine the proceeds of the note, assuming that the note carries an interest rate of 6%. b. Determine the proceeds of the note, assuming that the note is discounted at 6%.

Apr 21 2020 View more View Less

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