Elance Exams Answers PDF file

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On July 1, 2014, PQR Company received a $150,000 simple interest note for 5 months at 12% simple interest from ABC Trading. After 3 months, PQR needed cash so it discounted the note at the MEBank at a discount rate of 14%. How much will PQR receive as a proceeds from the discounting of the notes?

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