Solve the problem.
-Tech Support Associates accepts a $5,320, 7%, 240-day note for service equipment. The note is dated Sep 8. On Oct 29 the firm discounts the note at a bank, at a 9% discount rate. Find the
Proceeds.
A)$5,363.63
B)$5,305.17
C)$5,303.77
D)$5,254.90

Question

Quizplus · Accepted Answer

The Answer of Solve the problem.
-Tech Support Associates accepts a $5,320, 7%, 240-day note for service equipment. The note is dated Sep 8. On Oct 29 the firm discounts the note at a bank, at a 9% discount rate. Find the
Proceeds.
A)$5,363.63
B)$5,305.17
C)$5,303.77
D)$5,254.90

Solve the Problem. -Tech Support Associates Accepts a $5,320, 7%, 240-Day Note for 240-Day