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On March 12, Shante accepted a $12,000 note in granting a time extension of a bill for goods ...

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On March 12, Shante accepted a $12,000 note in granting a time extension of a bill for goods ...

On March 12, Shante accepted a $12,000 note in granting a time extension of a bill for goods purchased by Juan. Terms of the note were 13% for 90 days. On April 24, Shante could no longer wait for the money and discounted the note at Able Bank at a discount rate of 14%. The proceeds to Shante are:

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$12,047.90

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$12,163.54

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$12,390.00

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$12,048.90

▸

None of these

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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More solutions for this book are available here

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