Assuming a 360-day year, proceeds of $51,888 were received from discounting a $52,947, 90-day note at a bank. The discount rate used by the bank in computing proceeds was O a. 8% b. 10% c. 6% O d. 9%

Assuming a 360 -day year, proceeds of 551,888 were recelved trom discounting a 552,947,90-day note at a bank. The discount rate used by the bonk in computing proceeds was a. 376 b. 10\%, (5. 6% d. 94