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Abe Corp Discounted a 120-Day Note with a Maturity Value of of $8,000

Question 4

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Abe Corp. discounted a 120-day note with a maturity value of $8,000 dated June 8 at the Village Bank on Sept. 2, at a discount rate of 9%. Use ordinary interest. How much did Abe receive?

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Days = 120 - (days between Jun...

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