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23 June, 16:31

Craig borrowed $242,000 on October 1, 2020 and is required to pay $252,000 on March 1, 2021. How much cash did Craig receive on on October 1, 2020?

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  1. 23 June, 16:41
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    Craig received $242,000 on October 1, 2020

    Explanation:

    This is the amount he received in cash and the additional $10000 is the interest charged on the initial amount.
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