Artigas Engineering received a promissory note of $8,500 at 8% simple interest for 14 months from one of its customers. After 9 months, Yankee Bank discounted the note at a discount rate of 10%. Calculate the proceeds that Artigas Engineering will receive from the discounted note.

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The Answer of Artigas Engineering received a promissory note of $8,500 at 8% simple interest for 14 months from one of its customers. After 9 months, Yankee Bank discounted the note at a discount rate of 10%. Calculate the proceeds that Artigas Engineering will receive from the discounted note.

Artigas Engineering Received a Promissory Note of $8,500 at 8