The maturity date, maturity value, discount period and proceeds of the promissory note where face value is $ 850 , interest rate is 13 1 2 % for 125 days. On 3 September, note was discounted at the rate 16.5 % and the date of the note is 7 June.

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Chapter 10.III, Problem 18RE

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To calculate: The maturity date, maturity value, discount period and proceeds of the promissory note where face value is $850, interest rate is 1312% for 125 days. On 3 September, note was discounted at the rate 16.5% and the date of the note is 7 June.

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