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On July 20, 2021, Benildo Corp. discounts a 120 days, 15% P250,000 note of a customer dated July 10, 2021 with the Fiesta Financing Co. at 18%. How much w be the cash proceeds from discounting the customer note? P262,500 P235,562.50 P248,062.50

On July 20, 2021, Benildo Corp. discounts a 120 days, 15% P250,000 note of a customer dated July 10, 2021 with the Fiesta Financing Co. at 18%. How much w be the cash proceeds from discounting the customer note? P262,500 P235,562.50 P248,062.50

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Question 20 On July 20, 2021, Benildo Corp. discounts a 120 days, 15% P250,000 note of a customer dated July 10, 2021 with the Fiesta Financing Co. at 18%. How much will be the cash proceeds from discounting the customer note? P262,500 P235,562.50 P248,062.50 P250,000
Transcribed Image Text:Question 20 On July 20, 2021, Benildo Corp. discounts a 120 days, 15% P250,000 note of a customer dated July 10, 2021 with the Fiesta Financing Co. at 18%. How much will be the cash proceeds from discounting the customer note? P262,500 P235,562.50 P248,062.50 P250,000
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