Question
A 90-day simple discount promissory note for $2,600 with a simple discount rate of 9.5% was signed on May 30. It was discounted on July
A 90-day simple discount promissory note for $2,600 with a simple discount rate of 9.5% was signed on May 30. It was discounted on July 6 at 11%. Find the proceeds at the time of the sale.
Question options:
$2,563.64
$2,557.89
$2,618.64
$2,642.11
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Multinational Management
Authors: John B. Cullen
6th edition
1285094946, 1285094948, 9781285696744 , 978-1285094946
