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A building contractor gives a $15,000 promissory note to a plumber who has loaned him 15,000. The note is due in 9 months with interest

A building contractor gives a $15,000 promissory note to a plumber who has loaned him 15,000.

The note is due in 9 months with interest at 9%. Six months after the note is signed, the plumber sells it to a bank. If the bank gets a 11% return on its investment

a-How much will the plumber receive?

b-Will it be enough to pay a bill for $15,092?

How much will the plumber receive?

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