A $5,500,10% note dated May 20 for 78 days was discounted on June 23 at 12%.The amount of the discount (using a 360-day year)is:
A)$119.16.
B)$191.16
C)$124.89.
D)$82.41.

Question

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The Answer of A $5,500,10% note dated May 20 for 78 days was discounted on June 23 at 12%.The amount of the discount (using a 360-day year)is:
A)$119.16.
B)$191.16
C)$124.89.
D)$82.41.

A $5,500,10% Note Dated May 20 for 78 Days Was