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Compute the amount of cash received by Weaver from the bank.

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Weaver, Inc. received a $60,000, six-month, 12% interest -bearing note from a customer. The note was discounted the same day at Third National Bank at 15%

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Compute the amount of cash received by Weaver from the bank.

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The expert computes the amount of cash received by Weaver from the bank.

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The Net proceeds or cash received by weaver from bank on discounting the Note Receivable is calculated as under:

Principal Amount $60000

Interest (#60000X.12X6/12) 3600

Maturity Value ...

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