The time duration of the promissory notes, amount of bank discount and proceeds value where face value is $ 50 , 000 , ordinary discount rate is 13 % , date of note is 5 April and maturity date is 14 August.

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Chapter 10, Problem 20AT

To determine

To calculate: The time duration of the promissory notes, amount of bank discount and proceeds value where face value is $50,000, ordinary discount rate is 13%, date of note is 5 April and maturity date is 14 August.

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