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Business, 12.03.2020 00:02 russbeast6584

Misk, Inc. received from a customer a one year, $750,000 note bearing annual interest of 9%.

After holding the note for six months, Misk discounted the note at National Bank at an effective interest rate of 12%.

What amount of cash did Mick receive from the bank?

a. $780,713

b. $768,450

c. $700,950

d. $719,400

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Answers: 1

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