The face value of a note is $10,000 with an interest rate of 8.5%. The time is based on 180 days in a 360-day year. The note has been discounted at 14% three months before the maturity of the note. How much are the proceeds?

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The Answer of The face value of a note is $10,000 with an interest rate of 8.5%. The time is based on 180 days in a 360-day year. The note has been discounted at 14% three months before the maturity of the note. How much are the proceeds?

The Face Value of a Note Is $10,000 with an Interest