Evaluating Alternative Notes A borrower has toernatives for a loan (1) $270.000, 120-day 9 . Calculate the amount of the interest expense for each option for each alternative note or (2) Issue a 270,000. 120-day note that the creditor discounts at 9 Assume a 360 day year b. Determine the proceeds received by the borrower in each situation (1) $270,000, 120-day 9% interest-bearing note (2) $270,000. 120 day not discounted c. Alternative more favorable to the borrower because the borrowe