Would you rather borrow $10,000 by issuing (a) a 90-day, 15 percent note or (b) a 90-day, discounted note discounted


Would you rather borrow $10,000 by issuing (a) a 90-day, 15 percent note or (b) a 90-day, discounted note discounted at 15 percent?
Explain your answer and show your calculations.


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