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Lada Lada
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6 years ago
A 4-month, 7.26% percent promissory note dated June 10, 2013 has a maturity value of $6231.34. What is the face value of the note?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
Legal due date is October 13, 2013.
Interest period June 10, 2001 to October 13, 2001 contains 125 days.
Face value: P =   =   = 6080.17
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