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30 July, 02:56

The maturity value of a $16,000 non-interest-bearing, simple discount 6 percent, 60 days note is?

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  1. 30 July, 03:08
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    16,000) (0.06) (60/360) = (16,000) (0.06) (1/6) = $160. This is the discount amount.
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