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promissory notes
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Bank discount & Promissory notes
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Trade & Cash Discounts
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CASE STUDYPuttu received a promissory note of RM8800 with a simple intere
4% per annum. She received the note on 20 April 2019. The not
mature in 60 days.
Maturity period = 60 days
Date of the note = 20/4/2019 Maturity date = 20
Face value, P = RM 8800 Maturity value, S = R
Interest = RM 58.67
Interest rate, r = 0.04
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