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majarm majarm
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6 years ago
A 60-day non-interest-bearing promissory note for $10 000 is dated June 1, 2013. Compute the present value of the note on June 14, 2013, if money is worth 5%.
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
There are 63 days until the legal due date, August 3.
From June 14 to August 3 is 50 days.
Present value: P =   = $9931.97
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