Assuming a 360-day year, proceeds of $47,757 were received from discounting a $48,752, 90-day note at a bank. The discount rate used by the bank in computing the proceeds was a. 9.91% Ob. 6.16% O c. 9.4% d. 8.16%

Assuming a 360 -day year, proceeds of $47,757 were received from discounting a $48,752, 90-day note at a bank, The discount rate used by the bank in computing the proceeds wat L. 9 ais b. 510% c. 9.476 d. 8.165