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b. On July 14, Andy Bernadee accepted an RM60 000, 6%, 160 days note from Haqiem Rusli. On November 17, Andy Bernadee discounted the note

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b. On July 14, Andy Bernadee accepted an RM60 000, 6%, 160 days note from Haqiem Rusli. On November 17, Andy Bernadee discounted the note at MeBank at 7%. On December 21, the maturity value is RM61 600. Calculate the proceeds. [7 marks]

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