Evaluating Alternative Notes A borr a te alternatives for a loan (1) $270,000, 120 note or (2) $270.000, 120-day note that the creditor discounts at Assume a 360-day year s e for each option a. Calculate the amount of the interes d for each alternativa TIITIT t. Determine the proceeds received by the borrower in each situation (1) $270,000, 120 dan 996 interest-bearing note (2) 4270.000, 120 day note decounted at 996 a ble to the Law