Rediscounted note


Problem:

Marbury Bank was the holder of a 3-month note dated June 18th with a discount rate of 12%. The face value was $10,000. On July 20th, Marbury Bank rediscounted the note at LaPlata Bank at 11%. Discuss how to calculate how much Marbury Bank loaned to the maker of the note and how must Marbury would receive when the note was rediscounted.

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Accounting Basics: Rediscounted note
Reference No:- TGS01941588

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