Business, 15.04.2020 02:11, paigejosie6473

Misk, Inc. received from a customer a one year, $750,000 note bearing annual interest of 9%. After holding the note for six months, Misk discounted the note at National Bank at an effective interest rate of 12%. What amount of cash did Mick receive from the bank:
a. 719400
b. 768450
c. 700950
d. 780713

Answers: 3

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Misk, Inc. received from a customer a one year, $750,000 note bearing annual interest of 9%. After h...