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July 24, 2014

Homework Help: Business Math

Posted by Tee on Wednesday, June 19, 2013 at 9:13pm.

Varsity Press, a publisher of college textbooks, received a $70,000 promissory note at 12% ordinary interest for 60 days from one of its customers, Readerís Choice Bookstores. After 20 days, Varsity Press discounted the note at the Grove Isle Bank at a discount rate of 14.5%. The note was made on March 21. What was the maturity date of the note?

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