Amarianac8253 Amarianac8253

22-04-2024
Business

Answered

A $15. 000, 11%, 120-day note dated Sept. 3, is discounted on Nov. 11. Assuming a bank discount rate of 9%, the proceeds would be:(use ordinary interest)
A) 15,550. 00
B. $15,351. 74
C. $15,531. 74
D. $15,135. 47
E. None of these

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