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16-10A PROMISSORY NOTE (REVOLVING CREDIT AGREEMENT (Formal line of credit,…
16-10A PROMISSORY NOTE
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MATUARITY
Long-term has specific date, while a short-term may not have a specific matuarity
INTEREST RATE
It is indexed to the banks rate, could be fixed or floating
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LINE OF CREDIT
Is an agreement between a bank and a borrowed indicating the maximum amount of credit the bank will extended to the borrowed
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COMMERCIAL PAPER
Is a promissory note issued by a large, strong firm
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