Abe Corp Discounted a 120-Day Note with a Maturity Value of of $8,000

question 4

Short Answer

Abe Corp. discounted a 120-day note with a maturity value of $8,000 dated June 8 at the Village Bank on Sept. 2, at a discount rate of 9%. Use ordinary interest. How much did Abe receive?

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Definitions:

Continuous Random Variables

Continuous random variables are quantities that can assume an infinite number of values within a given range, often corresponding to measurements.

Normal Distributions

A distribution where the likelihood of data occurring decreases as the distance from the mean increases, all the while maintaining a symmetrical shape around the mean.

Discrete Random Variable

A random variable that can take on only a finite or countably infinite set of distinct values.

Text Messages

Short, digital communications sent over cell phone networks.